The Bank of N.T. Butterfield & Son Limited (NYSE:NTB – Get Free Report) announced a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Stockholders of record on Tuesday, November 5th will be paid a dividend of 0.44 per share by the bank on Tuesday, November 19th. This represents a $1.76 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Tuesday, November 5th.
Bank of N.T. Butterfield & Son has a dividend payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bank of N.T. Butterfield & Son to earn $4.35 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 40.5%.
Bank of N.T. Butterfield & Son Trading Up 0.7 %
Shares of Bank of N.T. Butterfield & Son stock opened at $38.23 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average of $37.30 and a 200 day moving average of $35.63. Bank of N.T. Butterfield & Son has a fifty-two week low of $24.62 and a fifty-two week high of $40.55.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group raised their price objective on Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods downgraded Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $44.00 to $41.00 in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.60.
Check Out Our Latest Stock Report on Bank of N.T. Butterfield & Son
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 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.
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