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

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) declared 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 annualized dividend and a dividend yield of 5.23%. The ex-dividend date of this dividend is Monday, May 6th.

Bank of N.T. Butterfield & Son Stock Down 0.1 %

NTB stock traded down $0.03 during midday trading on Thursday, reaching $33.63. 40,222 shares of the company were exchanged, compared to its average volume of 210,012. The stock’s 50-day simple moving average is $30.72 and its 200 day simple moving average is $29.77. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 7.56 and a beta of 1.29. Bank of N.T. Butterfield & Son has a 1-year low of $22.93 and a 1-year high of $34.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Wednesday, April 24th. The bank reported $1.17 EPS for the quarter, topping the consensus estimate of $0.96 by $0.21. The company had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $137.28 million. Bank of N.T. Butterfield & Son had a return on equity of 23.40% and a net margin of 29.60%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.24 earnings per share. On average, equities analysts forecast that Bank of N.T. Butterfield & Son will post 4.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted 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. Piper Sandler reissued an “overweight” rating and issued a $38.00 target price (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.40.

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 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.