Brokerages Expect Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) Will Post Earnings of $0.87 Per Share

Analysts predict that Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) will post earnings of $0.87 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Bank of N.T. Butterfield & Son’s earnings. Bank of N.T. Butterfield & Son posted earnings per share of $0.92 during the same quarter last year, which would indicate a negative year over year growth rate of 5.4%. The company is expected to announce its next earnings results on Tuesday, February 18th.

On average, analysts expect that Bank of N.T. Butterfield & Son will report full year earnings of $3.35 per share for the current fiscal year. For the next financial year, analysts anticipate that the firm will post earnings of $3.53 per share. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Bank of N.T. Butterfield & Son.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). The firm had revenue of $132.97 million for the quarter, compared to analyst estimates of $138.14 million. Bank of N.T. Butterfield & Son had a net margin of 32.27% and a return on equity of 22.09%. During the same period in the previous year, the company earned $0.88 EPS.

Several research analysts recently commented on the company. TheStreet raised Bank of N.T. Butterfield & Son from a “c+” rating to a “b-” rating in a research note on Friday, November 8th. Raymond James lowered their target price on shares of Bank of N.T. Butterfield & Son from $38.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. ValuEngine raised shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup reduced their target price on shares of Bank of N.T. Butterfield & Son from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. Finally, Zacks Investment Research raised shares of Bank of N.T. Butterfield & Son from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Bank of N.T. Butterfield & Son presently has an average rating of “Buy” and a consensus target price of $39.80.

Several large investors have recently bought and sold shares of NTB. Maverick Capital Ltd. boosted its stake in Bank of N.T. Butterfield & Son by 32.5% during the third quarter. Maverick Capital Ltd. now owns 163,141 shares of the bank’s stock worth $4,835,000 after buying an additional 39,971 shares during the last quarter. Raffles Associates LP acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth $296,000. Squarepoint Ops LLC increased its stake in shares of Bank of N.T. Butterfield & Son by 775.7% in the 3rd quarter. Squarepoint Ops LLC now owns 74,436 shares of the bank’s stock worth $2,206,000 after acquiring an additional 65,936 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Bank of N.T. Butterfield & Son by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 85,267 shares of the bank’s stock worth $2,527,000 after acquiring an additional 1,018 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Bank of N.T. Butterfield & Son by 0.3% during the 3rd quarter. State Street Corp now owns 948,539 shares of the bank’s stock worth $28,115,000 after acquiring an additional 2,955 shares during the period. 71.06% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:NTB opened at $34.52 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.72 and a quick ratio of 0.72. The business’s 50 day moving average price is $33.06 and its 200-day moving average price is $32.12. The firm has a market capitalization of $1.89 billion, a PE ratio of 9.78, a P/E/G ratio of 1.56 and a beta of 1.87. Bank of N.T. Butterfield & Son has a 1 year low of $26.08 and a 1 year high of $41.84.

The business also recently declared a dividend, which was paid on Friday, November 15th. Stockholders of record on Monday, November 4th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, November 1st.

About Bank of N.T. Butterfield & Son

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 non-interest bearing deposits, as well as certificates of deposit. The company's lending portfolio includes residential mortgage lending, automobile financing, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.

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