$116.71 Million in Sales Expected for Bank of N.T. Butterfield & Son Ltd (NTB) This Quarter

Wall Street analysts predict that Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) will report sales of $116.71 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Bank of N.T. Butterfield & Son’s earnings. The highest sales estimate is $117.00 million and the lowest is $116.41 million. Bank of N.T. Butterfield & Son reported sales of $106.47 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.6%. The firm is scheduled to issue its next earnings report after the market closes on Monday, April 23rd.

According to Zacks, analysts expect that Bank of N.T. Butterfield & Son will report full year sales of $495.18 million for the current year, with estimates ranging from $491.30 million to $499.05 million. For the next year, analysts anticipate that the company will report sales of $569.40 million per share, with estimates ranging from $556.50 million to $582.29 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Bank of N.T. Butterfield & Son.

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Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Thursday, February 15th. The bank reported $0.76 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. Bank of N.T. Butterfield & Son had a return on equity of 20.27% and a net margin of 33.07%. The firm had revenue of $118.50 million for the quarter, compared to analysts’ expectations of $113.41 million.

Several equities analysts recently issued reports on NTB shares. Zacks Investment Research upgraded Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Friday, March 23rd. Keefe, Bruyette & Woods restated a “buy” rating and set a $54.00 price objective on shares of Bank of N.T. Butterfield & Son in a research note on Tuesday, February 27th. Sandler O’Neill restated a “buy” rating and set a $50.00 price objective on shares of Bank of N.T. Butterfield & Son in a research note on Wednesday, March 28th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Bank of N.T. Butterfield & Son in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $47.80.

A number of hedge funds and other institutional investors have recently modified their holdings of NTB. Bank of New York Mellon Corp increased its position in Bank of N.T. Butterfield & Son by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 194,532 shares of the bank’s stock worth $7,004,000 after buying an additional 1,568 shares during the period. Russell Investments Group Ltd. increased its position in Bank of N.T. Butterfield & Son by 15.4% in the third quarter. Russell Investments Group Ltd. now owns 38,971 shares of the bank’s stock worth $1,428,000 after buying an additional 5,210 shares during the period. SG Americas Securities LLC acquired a new stake in Bank of N.T. Butterfield & Son in the third quarter worth $250,000. American International Group Inc. increased its position in Bank of N.T. Butterfield & Son by 8.1% in the third quarter. American International Group Inc. now owns 36,075 shares of the bank’s stock worth $1,322,000 after buying an additional 2,697 shares during the period. Finally, Wells Fargo & Company MN increased its position in Bank of N.T. Butterfield & Son by 13.9% in the third quarter. Wells Fargo & Company MN now owns 675,155 shares of the bank’s stock worth $24,737,000 after buying an additional 82,619 shares during the period. 69.79% of the stock is currently owned by hedge funds and other institutional investors.

NTB traded up $0.30 during trading hours on Monday, hitting $45.64. 290,494 shares of the stock were exchanged, compared to its average volume of 311,528. Bank of N.T. Butterfield & Son has a 12 month low of $30.58 and a 12 month high of $47.60. The stock has a market capitalization of $2,479.74, a PE ratio of 15.96, a price-to-earnings-growth ratio of 2.20 and a beta of 0.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.61 and a quick ratio of 0.61.

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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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