The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Expected to Post Earnings of $0.79 Per Share

Wall Street analysts expect The Bank of N.T. Butterfield & Son Limited (NYSE:NTBGet Rating) to announce earnings per share (EPS) of $0.79 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Bank of N.T. Butterfield & Son’s earnings, with estimates ranging from $0.77 to $0.81. Bank of N.T. Butterfield & Son posted earnings of $0.83 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 4.8%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Bank of N.T. Butterfield & Son will report full year earnings of $3.59 per share for the current year, with EPS estimates ranging from $3.53 to $3.64. For the next fiscal year, analysts expect that the company will post earnings of $4.08 per share, with EPS estimates ranging from $3.91 to $4.25. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Bank of N.T. Butterfield & Son.

Bank of N.T. Butterfield & Son (NYSE:NTBGet Rating) last posted its earnings results on Sunday, February 13th. The bank reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Bank of N.T. Butterfield & Son had a return on equity of 17.03% and a net margin of 31.56%. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $124.75 million. During the same period in the previous year, the business earned $0.86 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis.

NTB has been the subject of several research reports. StockNews.com initiated coverage on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research raised shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Friday, February 18th. Piper Sandler boosted their price target on shares of Bank of N.T. Butterfield & Son from $41.00 to $47.00 in a research note on Wednesday, February 16th. The Goldman Sachs Group increased their target price on shares of Bank of N.T. Butterfield & Son from $40.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, January 11th. Finally, Raymond James boosted their target price on Bank of N.T. Butterfield & Son from $38.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, February 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $43.83.

Large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Bank of N.T. Butterfield & Son in the 4th quarter valued at $18,605,000. Victory Capital Management Inc. bought a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at $11,241,000. Capital World Investors grew its stake in shares of Bank of N.T. Butterfield & Son by 12.6% in the third quarter. Capital World Investors now owns 2,371,585 shares of the bank’s stock worth $84,215,000 after purchasing an additional 264,862 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth about $8,574,000. Finally, CI Investments Inc. acquired a new stake in Bank of N.T. Butterfield & Son in the third quarter worth $5,104,000. Institutional investors own 62.58% of the company’s stock.

Shares of NTB stock opened at $34.29 on Friday. The company’s 50 day moving average is $37.29 and its 200 day moving average is $37.75. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.18. Bank of N.T. Butterfield & Son has a 52-week low of $30.95 and a 52-week high of $41.69. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 10.52 and a beta of 1.70.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 14th. Stockholders of record on Monday, February 28th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend was Friday, February 25th. Bank of N.T. Butterfield & Son’s payout ratio is 53.99%.

Bank of N.T. Butterfield & Son Company Profile (Get Rating)

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, as well as certificate of deposits.

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Earnings History and Estimates for Bank of N.T. Butterfield & Son (NYSE:NTB)

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