Analysts expect Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) to post earnings of $0.94 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Bank of N.T. Butterfield & Son’s earnings, with the lowest EPS estimate coming in at $0.91 and the highest estimate coming in at $0.96. Bank of N.T. Butterfield & Son reported earnings of $0.88 per share during the same quarter last year, which indicates a positive year over year growth rate of 6.8%. The firm is expected to issue its next quarterly earnings report on Tuesday, October 22nd.
According to Zacks, analysts expect that Bank of N.T. Butterfield & Son will report full year earnings of $3.57 per share for the current financial year. For the next fiscal year, analysts anticipate that the company will report earnings of $3.89 per share, with EPS estimates ranging from $3.80 to $3.98. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Bank of N.T. Butterfield & Son.
Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Tuesday, July 23rd. The bank reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.03. Bank of N.T. Butterfield & Son had a net margin of 34.60% and a return on equity of 22.69%. The company had revenue of $129.40 million for the quarter, compared to analysts’ expectations of $133.65 million. During the same quarter in the previous year, the company earned $0.93 EPS. Bank of N.T. Butterfield & Son’s revenue for the quarter was up .1% on a year-over-year basis.
A number of research firms recently weighed in on NTB. Wells Fargo & Co cut shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $44.00 to $38.00 in a research note on Monday, July 1st. Zacks Investment Research cut shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. Keefe, Bruyette & Woods cut shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $51.00 to $41.00 in a research note on Sunday, July 7th. Citigroup set a $48.00 price target on shares of Bank of N.T. Butterfield & Son and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, ValuEngine cut shares of Bank of N.T. Butterfield & Son from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $44.20.
Shares of NTB traded down $0.83 during trading hours on Friday, reaching $26.41. 75,287 shares of the stock traded hands, compared to its average volume of 239,495. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.65 and a current ratio of 0.65. Bank of N.T. Butterfield & Son has a 52-week low of $26.83 and a 52-week high of $53.63. The company’s 50-day simple moving average is $32.19. The company has a market capitalization of $1.47 billion, a P/E ratio of 7.48, a P/E/G ratio of 1.23 and a beta of 1.79.
The business also recently declared a dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 2nd.
Hedge funds have recently made changes to their positions in the business. Cornerstone Advisors Inc. lifted its stake in Bank of N.T. Butterfield & Son by 154.1% in the 2nd quarter. Cornerstone Advisors Inc. now owns 780 shares of the bank’s stock worth $26,000 after purchasing an additional 473 shares in the last quarter. Ropes Wealth Advisors LLC purchased a new stake in Bank of N.T. Butterfield & Son in the 1st quarter worth $36,000. NumerixS Investment Technologies Inc purchased a new stake in Bank of N.T. Butterfield & Son in the 2nd quarter worth $85,000. Nisa Investment Advisors LLC purchased a new stake in Bank of N.T. Butterfield & Son in the 1st quarter worth $95,000. Finally, Tower Research Capital LLC TRC lifted its stake in Bank of N.T. Butterfield & Son by 35.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,529 shares of the bank’s stock worth $120,000 after purchasing an additional 918 shares in the last quarter. Institutional investors and hedge funds own 71.86% of the company’s stock.
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 non-interest bearing deposits, as well as certificates of deposit. The company's lending portfolio includes residential mortgage lending, automobile financing, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.
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