Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) declared a quarterly dividend on Friday, July 24th, Wall Street Journal reports. Shareholders of record on Wednesday, August 5th will be given a dividend of 0.44 per share by the bank on Wednesday, August 19th. This represents a $1.76 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date of this dividend is Tuesday, August 4th.
Bank of N.T. Butterfield & Son has a dividend payout ratio of 67.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bank of N.T. Butterfield & Son to earn $2.65 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 66.4%.
NYSE:NTB opened at $26.03 on Friday. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 8.53 and a beta of 2.21. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average is $24.60 and its two-hundred day moving average is $25.08. Bank of N.T. Butterfield & Son has a 12-month low of $13.76 and a 12-month high of $38.05.
Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.12. The business had revenue of $120.77 million for the quarter, compared to analyst estimates of $121.55 million. Bank of N.T. Butterfield & Son had a net margin of 28.51% and a return on equity of 17.47%. On average, equities research analysts forecast that Bank of N.T. Butterfield & Son will post 2.73 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Bank of N.T. Butterfield & Son from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Raymond James increased their price objective on shares of Bank of N.T. Butterfield & Son from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. Citigroup increased their price objective on shares of Bank of N.T. Butterfield & Son from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Zacks Investment Research upgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Wednesday. Finally, Wells Fargo & Co lowered shares of Bank of N.T. Butterfield & Son from an “overweight” rating to an “equal weight” rating and set a $25.00 price target on the stock. in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $28.20.
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 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.
See Also: Ex-Dividend
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