Bank of N.T. Butterfield & Son (NYSE:NTB) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Bank of N.T. Butterfield & Son (NYSE:NTB) issued its earnings results on Tuesday. The bank reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.21, Briefing.com reports. The firm had revenue of $142.80 million during the quarter, compared to analysts’ expectations of $137.28 million. Bank of N.T. Butterfield & Son had a net margin of 29.60% and a return on equity of 23.40%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 earnings per share.

Bank of N.T. Butterfield & Son Stock Performance

NTB opened at $33.66 on Thursday. The firm has a market capitalization of $1.69 billion, a PE ratio of 7.56 and a beta of 1.29. Bank of N.T. Butterfield & Son has a twelve month low of $22.93 and a twelve month high of $33.80. The firm’s 50-day moving average price is $30.72 and its 200 day moving average price is $29.77. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.76 dividend on an annualized basis and a yield of 5.23%. Bank of N.T. Butterfield & Son’s payout ratio is presently 39.55%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler restated an “overweight” rating and set a $38.00 price target (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday. The Goldman Sachs Group lifted their target price on shares of Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.40.

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.