The Bank of N.T. Butterfield & Son Limited (NYSE:NTB – Get Free Report) announced a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Stockholders of record on Tuesday, November 5th will be given a dividend of 0.44 per share by the bank on Tuesday, November 19th. This represents a $1.76 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Tuesday, November 5th.
Bank of N.T. Butterfield & Son has a dividend payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of N.T. Butterfield & Son to earn $4.35 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 40.5%.
Bank of N.T. Butterfield & Son Trading Down 3.8 %
NYSE:NTB opened at $36.79 on Friday. The company has a fifty day moving average of $37.36 and a 200-day moving average of $35.68. 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 twelve month low of $24.62 and a twelve month high of $40.55.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $44.00 to $41.00 in a report on Wednesday, October 2nd. The Goldman Sachs Group lifted their price objective on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.60.
Check Out Our Latest Research Report on NTB
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.
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