$129.85 Million in Sales Expected for The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) This Quarter

Analysts expect The Bank of N.T. Butterfield & Son Limited (NYSE:NTBGet Rating) to announce $129.85 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Bank of N.T. Butterfield & Son’s earnings. The lowest sales estimate is $127.70 million and the highest is $132.00 million. Bank of N.T. Butterfield & Son reported sales of $123.54 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.1%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Bank of N.T. Butterfield & Son will report full year sales of $530.40 million for the current financial year, with estimates ranging from $521.00 million to $539.80 million. For the next financial year, analysts expect that the business will post sales of $564.20 million, with estimates ranging from $545.10 million to $583.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Bank of N.T. Butterfield & Son.

Bank of N.T. Butterfield & Son (NYSE:NTBGet Rating) last announced its earnings results on Monday, May 2nd. The bank reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. Bank of N.T. Butterfield & Son had a net margin of 31.87% and a return on equity of 17.93%. During the same period in the prior year, the company earned $0.83 EPS.

NTB has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Friday, May 6th. StockNews.com began coverage on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Raymond James raised their price target on shares of Bank of N.T. Butterfield & Son from $38.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 16th. Finally, Piper Sandler raised 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son has a consensus rating of “Buy” and an average target price of $43.20.

A number of institutional investors have recently modified their holdings of the business. Philadelphia Financial Management of San Francisco LLC bought a new position in Bank of N.T. Butterfield & Son during the 1st quarter worth about $15,161,000. Polar Capital Holdings Plc grew its holdings in Bank of N.T. Butterfield & Son by 24.0% during the 1st quarter. Polar Capital Holdings Plc now owns 254,235 shares of the bank’s stock worth $9,122,000 after acquiring an additional 49,174 shares in the last quarter. Quantbot Technologies LP bought a new position in Bank of N.T. Butterfield & Son during the 1st quarter worth about $196,000. Goldman Sachs Group Inc. grew its holdings in Bank of N.T. Butterfield & Son by 7.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 148,688 shares of the bank’s stock worth $5,335,000 after acquiring an additional 10,017 shares in the last quarter. Finally, State Street Corp grew its holdings in Bank of N.T. Butterfield & Son by 5.8% during the 1st quarter. State Street Corp now owns 743,532 shares of the bank’s stock worth $26,678,000 after acquiring an additional 40,872 shares in the last quarter.

Shares of NTB opened at $29.16 on Friday. Bank of N.T. Butterfield & Son has a twelve month low of $28.67 and a twelve month high of $41.69. The company has a market cap of $1.57 billion, a P/E ratio of 8.78 and a beta of 1.66. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $34.03 and its 200-day simple moving average is $36.76.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 6.04%. The ex-dividend date is Friday, May 13th. Bank of N.T. Butterfield & Son’s payout ratio is 53.01%.

About Bank of N.T. Butterfield & Son (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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