Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) Expected to Post Quarterly Sales of $120.05 Million

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Equities analysts expect Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) to announce $120.05 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Bank of N.T. Butterfield & Son’s earnings, with the highest sales estimate coming in at $121.40 million and the lowest estimate coming in at $118.70 million. Bank of N.T. Butterfield & Son posted sales of $132.97 million during the same quarter last year, which suggests a negative year over year growth rate of 9.7%. The business is expected to announce its next quarterly earnings report on Tuesday, October 27th.

On average, analysts expect that Bank of N.T. Butterfield & Son will report full year sales of $493.35 million for the current financial year, with estimates ranging from $492.90 million to $493.80 million. For the next fiscal year, analysts expect that the business will post sales of $491.90 million, with estimates ranging from $487.10 million to $496.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Bank of N.T. Butterfield & Son.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.12. Bank of N.T. Butterfield & Son had a return on equity of 17.47% and a net margin of 28.51%. The firm had revenue of $120.77 million during the quarter, compared to analysts’ expectations of $121.55 million.

A number of equities analysts have weighed in on NTB shares. Citigroup boosted their price objective on Bank of N.T. Butterfield & Son from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Zacks Investment Research lowered Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Piper Sandler boosted their price objective on Bank of N.T. Butterfield & Son from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Raymond James boosted their price objective on Bank of N.T. Butterfield & Son from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Finally, Wells Fargo & Co lowered Bank of N.T. Butterfield & Son from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Bank of N.T. Butterfield & Son currently has a consensus rating of “Hold” and an average target price of $28.20.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. American International Group Inc. increased its holdings in Bank of N.T. Butterfield & Son by 1.4% during the 2nd quarter. American International Group Inc. now owns 31,803 shares of the bank’s stock worth $776,000 after purchasing an additional 452 shares during the period. PNC Financial Services Group Inc. increased its holdings in Bank of N.T. Butterfield & Son by 7.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,758 shares of the bank’s stock worth $164,000 after purchasing an additional 492 shares during the period. US Bancorp DE increased its holdings in Bank of N.T. Butterfield & Son by 18.9% during the 1st quarter. US Bancorp DE now owns 4,360 shares of the bank’s stock worth $74,000 after purchasing an additional 694 shares during the period. Envestnet Asset Management Inc. increased its holdings in Bank of N.T. Butterfield & Son by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 52,761 shares of the bank’s stock worth $1,287,000 after purchasing an additional 1,147 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new stake in Bank of N.T. Butterfield & Son during the 1st quarter worth about $40,000. Institutional investors own 65.66% of the company’s stock.

NYSE NTB traded up $0.12 on Thursday, reaching $25.61. 125,683 shares of the company were exchanged, compared to its average volume of 178,258. The business’s fifty day moving average price is $25.97 and its 200 day moving average price is $23.70. The stock has a market capitalization of $1.38 billion, a P/E ratio of 8.40 and a beta of 2.09. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.24. Bank of N.T. Butterfield & Son has a fifty-two week low of $13.76 and a fifty-two week high of $38.05.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Wednesday, August 5th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 6.87%. The ex-dividend date of this dividend was Tuesday, August 4th. Bank of N.T. Butterfield & Son’s payout ratio is 47.70%.

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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Earnings History and Estimates for Bank of N.T. Butterfield & Son (NYSE:NTB)

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