Bank of N.T. Butterfield & Son Limited (The) (NTB) Expected to Announce Earnings of $0.68 Per Share

Analysts predict that Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) will announce $0.68 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Bank of N.T. Butterfield & Son Limited (The)’s earnings. The highest EPS estimate is $0.70 and the lowest is $0.65. The company is scheduled to report its next earnings report on Tuesday, July 25th.

According to Zacks, analysts expect that Bank of N.T. Butterfield & Son Limited (The) will report full-year earnings of $2.83 per share for the current financial year, with EPS estimates ranging from $2.80 to $2.85. For the next fiscal year, analysts forecast that the firm will report earnings of $3.28 per share, with EPS estimates ranging from $3.25 to $3.30. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Bank of N.T. Butterfield & Son Limited (The).

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last issued its quarterly earnings data on Tuesday, April 25th. The bank reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The firm had revenue of $106.47 million during the quarter, compared to analyst estimates of $105.18 million.

A number of analysts have issued reports on the company. Zacks Investment Research raised Bank of N.T. Butterfield & Son Limited (The) from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Tuesday, June 13th. Keefe, Bruyette & Woods set a $35.00 price target on Bank of N.T. Butterfield & Son Limited (The) and gave the company a “buy” rating in a research report on Thursday, March 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $32.25.

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Shares of Bank of N.T. Butterfield & Son Limited (NYSE:NTB) traded up 0.46% on Tuesday, reaching $34.95. The company’s stock had a trading volume of 312,845 shares. The stock has a market cap of $1.90 billion and a P/E ratio of 25.14. The firm’s 50 day moving average is $33.94 and its 200-day moving average is $32.49. Bank of N.T. Butterfield & Son Limited has a 52-week low of $23.75 and a 52-week high of $35.34.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 30th. Stockholders of record on Monday, May 15th were given a $0.32 dividend. The ex-dividend date was Thursday, May 11th. This is a boost from Bank of N.T. Butterfield & Son Limited (The)’s previous quarterly dividend of $0.10. This represents a $1.28 annualized dividend and a dividend yield of 3.66%.

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 3.2% in the first quarter. Wellington Management Group LLP now owns 5,243,298 shares of the bank’s stock valued at $167,314,000 after buying an additional 160,828 shares during the period. King Street Capital Management L.P. bought a new position in shares of Bank of N.T. Butterfield & Son Limited (The) during the fourth quarter valued at $82,487,000. FMR LLC boosted its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 100.0% in the fourth quarter. FMR LLC now owns 2,584,086 shares of the bank’s stock valued at $81,243,000 after buying an additional 1,291,948 shares during the period. NWQ Investment Management Company LLC boosted its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 238.2% in the fourth quarter. NWQ Investment Management Company LLC now owns 1,848,530 shares of the bank’s stock valued at $58,118,000 after buying an additional 1,301,945 shares during the period. Finally, Southpoint Capital Advisors LP boosted its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 55.2% in the first quarter. Southpoint Capital Advisors LP now owns 931,139 shares of the bank’s stock valued at $29,713,000 after buying an additional 331,139 shares during the period. Institutional investors own 65.09% of the company’s stock.

About Bank of N.T. Butterfield & Son Limited (The)

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

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