Bank of N.T. Butterfield & Son Limited (The) (NTB) Expected to Post Quarterly Sales of $109.32 Million

Equities analysts predict that Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) will post sales of $109.32 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Bank of N.T. Butterfield & Son Limited (The)’s earnings. The highest sales estimate is $109.33 million and the lowest is $109.30 million. The firm is expected to issue its next earnings report on Tuesday, July 25th.

According to Zacks, analysts expect that Bank of N.T. Butterfield & Son Limited (The) will report full-year sales of $109.32 million for the current financial year, with estimates ranging from $437.77 million to $439.10 million. For the next year, analysts forecast that the firm will report sales of $466.81 million per share, with estimates ranging from $466.10 million to $467.51 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Bank of N.T. Butterfield & Son Limited (The).

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last announced its earnings results on Tuesday, April 25th. The bank reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $106.47 million for the quarter, compared to analysts’ expectations of $105.18 million.

A number of research analysts recently weighed in on the company. Zacks Investment Research raised Bank of N.T. Butterfield & Son Limited (The) from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Tuesday, June 13th. Keefe, Bruyette & Woods set a $35.00 target price on Bank of N.T. Butterfield & Son Limited (The) and gave the company a “buy” rating in a report on Thursday, March 16th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $32.25.

A number of hedge funds have recently bought and sold shares of NTB. State Street Corp purchased a new stake in Bank of N.T. Butterfield & Son Limited (The) during the fourth quarter valued at $5,069,000. Wellington Management Group LLP raised its stake in Bank of N.T. Butterfield & Son Limited (The) by 3.2% in the first quarter. Wellington Management Group LLP now owns 5,243,298 shares of the bank’s stock valued at $167,314,000 after buying an additional 160,828 shares during the period. Martingale Asset Management L P purchased a new stake in Bank of N.T. Butterfield & Son Limited (The) during the fourth quarter valued at $2,057,000. Sei Investments Co. raised its stake in Bank of N.T. Butterfield & Son Limited (The) by 97.7% in the first quarter. Sei Investments Co. now owns 77,352 shares of the bank’s stock valued at $2,469,000 after buying an additional 38,220 shares during the period. Finally, FMR LLC raised its stake in Bank of N.T. Butterfield & Son Limited (The) by 100.0% in the fourth quarter. FMR LLC now owns 2,584,086 shares of the bank’s stock valued at $81,243,000 after buying an additional 1,291,948 shares during the period. 65.09% of the stock is currently owned by institutional investors.

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Shares of Bank of N.T. Butterfield & Son Limited (NYSE NTB) traded up 0.46% on Thursday, hitting $34.95. The stock had a trading volume of 312,845 shares. The stock has a market cap of $1.90 billion and a P/E ratio of 25.14. The firm has a 50 day moving average of $33.94 and a 200 day moving average of $32.49. Bank of N.T. Butterfield & Son Limited has a 12 month low of $23.75 and a 12 month high of $35.34.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 30th. Shareholders of record on Monday, May 15th were issued a $0.32 dividend. This is a positive change from Bank of N.T. Butterfield & Son Limited (The)’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, May 11th. This represents a $1.28 annualized dividend and a yield of 3.66%.

About Bank of N.T. Butterfield & Son Limited (The)

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

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