The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Declares Quarterly Dividend of $0.44

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Tuesday, May 7th will be given a dividend of 0.44 per share by the bank on Tuesday, May 21st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Monday, May 6th.

Bank of N.T. Butterfield & Son has a payout ratio of 37.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bank of N.T. Butterfield & Son to earn $4.70 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 37.4%.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB stock opened at $35.37 on Friday. The stock has a fifty day moving average price of $31.29 and a 200 day moving average price of $30.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $1.78 billion, a PE ratio of 7.95 and a beta of 1.24. Bank of N.T. Butterfield & Son has a 1 year low of $22.93 and a 1 year high of $36.00.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.21. The business had revenue of $142.80 million during the quarter, compared to the consensus estimate of $137.28 million. Bank of N.T. Butterfield & Son had a return on equity of 23.18% and a net margin of 27.95%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 EPS. Sell-side analysts forecast that Bank of N.T. Butterfield & Son will post 4.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NTB shares. Raymond James reiterated an “outperform” rating and issued a $36.00 price target (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. Piper Sandler reiterated an “overweight” rating and set a $38.00 target price (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. The Goldman Sachs Group boosted their price target on Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods decreased their price objective on Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.80.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.