Bank of N.T. Butterfield & Son (NYSE:NTB) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Bank of N.T. Butterfield & Son (NYSE:NTB) released its quarterly earnings results on Tuesday. The bank reported $1.16 EPS for the quarter, beating the consensus estimate of $1.10 by $0.06, Briefing.com reports. The firm had revenue of $142.70 million for the quarter, compared to analyst estimates of $142.07 million. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 EPS.

Bank of N.T. Butterfield & Son Stock Up 0.5 %

Shares of Bank of N.T. Butterfield & Son stock traded up $0.18 during trading hours on Wednesday, hitting $38.06. The company had a trading volume of 39,519 shares, compared to its average volume of 197,949. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50-day moving average is $37.24 and its two-hundred day moving average is $35.61. The company has a market cap of $1.91 billion, a P/E ratio of 8.52 and a beta of 1.18. Bank of N.T. Butterfield & Son has a twelve month low of $24.62 and a twelve month high of $40.55.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NTB. The Goldman Sachs Group upped their price objective on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company boosted their price objective on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods lowered Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $44.00 to $41.00 in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Bank of N.T. Butterfield & Son has a consensus rating of “Moderate Buy” and an average price target of $39.60.

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 interest bearing and non-interest bearing deposits. The company’s lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.