Bank of N.T. Butterfield & Son Limited (The) (NTB) To Go Ex-Dividend on August 12th

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) declared a quarterly dividend on Monday, July 27th. Shareholders of record on Wednesday, August 12th will be paid a dividend of 0.50 per share by the bank on Wednesday, August 26th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, August 12th.

Bank of N.T. Butterfield & Son has increased its dividend payment by an average of 0.0%annually over the last three years. Bank of N.T. Butterfield & Son has a dividend payout ratio of 38.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bank of N.T. Butterfield & Son to earn $7.00 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 28.6%.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB stock opened at $60.12 on Wednesday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 10.57 and a beta of 0.51. Bank of N.T. Butterfield & Son has a 52 week low of $40.59 and a 52 week high of $62.46. The firm’s 50-day simple moving average is $58.95 and its two-hundred day simple moving average is $55.02.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 22.54% and a net margin of 29.34%.The company had revenue of $159.00 million during the quarter. Analysts forecast that Bank of N.T. Butterfield & Son will post 6.1 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on NTB. Zacks Research downgraded Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Wells Fargo & Company boosted their price objective on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, June 8th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

About Bank of N.T. Butterfield & Son

Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a Bermuda-based provider of banking and wealth management services. Founded in 1858, the firm has grown from a local colonial bank into an international financial institution. With a focus on personalized client service, Butterfield offers a comprehensive suite of banking and fiduciary solutions to private individuals, families, and corporate clients.

The bank’s core activities include private banking, retail and commercial lending, trust and corporate administration, and fund services.