Bank of N.T. Butterfield & Son (NYSE:NTB) Posts Earnings Results, Beats Expectations By $0.06 EPS

Bank of N.T. Butterfield & Son (NYSE:NTB) issued its quarterly earnings results on Tuesday. The bank reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06, Briefing.com reports. The company had revenue of $142.70 million during the quarter, compared to the consensus estimate of $142.07 million. Bank of N.T. Butterfield & Son had a net margin of 25.93% and a return on equity of 21.48%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 earnings per share.

Bank of N.T. Butterfield & Son Stock Down 2.7 %

NTB traded down $1.05 during trading on Friday, hitting $37.19. 68,034 shares of the stock were exchanged, compared to its average volume of 198,046. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. Bank of N.T. Butterfield & Son has a 1-year low of $24.62 and a 1-year high of $40.55. The stock has a fifty day moving average price of $37.30 and a two-hundred day moving average price of $35.63.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be given a $0.44 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.73%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 39.20%.

Analyst Ratings Changes

A number of research firms have weighed in on NTB. Wells Fargo & Company raised their price target on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods downgraded Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $44.00 to $41.00 in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and an average target price of $39.60.

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.