Wall Street brokerages expect Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) to report earnings per share of $0.71 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Bank of N.T. Butterfield & Son’s earnings, with estimates ranging from $0.70 to $0.72. The business is expected to issue its next quarterly earnings report on Tuesday, July 25th.
According to Zacks, analysts expect that Bank of N.T. Butterfield & Son will report full-year earnings of $2.88 per share for the current year, with EPS estimates ranging from $2.85 to $2.90. For the next financial year, analysts anticipate that the company will report earnings of $3.28 per share, with EPS estimates ranging from $3.25 to $3.30. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Bank of N.T. Butterfield & Son.
Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Tuesday, April 25th. The bank reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.08. The firm had revenue of $106.47 million for the quarter, compared to analysts’ expectations of $105.18 million.
NTB has been the topic of a number of analyst reports. Keefe, Bruyette & Woods set a $35.00 target price on shares of Bank of N.T. Butterfield & Son and gave the stock a “buy” rating in a research report on Thursday, March 16th. Zacks Investment Research lowered shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $31.00.
A number of hedge funds have recently made changes to their positions in the company. King Street Capital Management L.P. purchased a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth about $82,487,000. NWQ Investment Management Company LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 238.2% in the fourth quarter. NWQ Investment Management Company LLC now owns 1,848,530 shares of the bank’s stock worth $58,118,000 after buying an additional 1,301,945 shares during the period. FMR LLC increased its position in Bank of N.T. Butterfield & Son by 100.0% in the fourth quarter. FMR LLC now owns 2,584,086 shares of the bank’s stock worth $81,243,000 after buying an additional 1,291,948 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Bank of N.T. Butterfield & Son during the first quarter worth $22,661,000. Finally, Point72 Asset Management L.P. bought a new position in Bank of N.T. Butterfield & Son during the first quarter worth $22,417,000. Hedge funds and other institutional investors own 50.91% of the company’s stock.
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Bank of N.T. Butterfield & Son (NYSE:NTB) traded up 0.18% during mid-day trading on Tuesday, hitting $33.36. 209,364 shares of the stock traded hands. The stock’s 50 day moving average is $32.85 and its 200-day moving average is $31.67. Bank of N.T. Butterfield & Son has a 12 month low of $23.75 and a 12 month high of $35.33. The company has a market cap of $1.81 billion and a price-to-earnings ratio of 24.00.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Investors of record on Monday, May 15th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, May 11th. This represents a $1.28 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Bank of N.T. Butterfield & Son’s previous quarterly dividend of $0.10.
Bank of N.T. Butterfield & Son Company Profile
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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