Equities research analysts expect that Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) will announce sales of $136.99 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Bank of N.T. Butterfield & Son’s earnings, with the lowest sales estimate coming in at $133.90 million and the highest estimate coming in at $140.07 million. Bank of N.T. Butterfield & Son reported sales of $129.55 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.7%. The business is expected to report its next quarterly earnings report on Tuesday, October 22nd.
According to Zacks, analysts expect that Bank of N.T. Butterfield & Son will report full year sales of $539.27 million for the current financial year, with estimates ranging from $537.00 million to $541.54 million. For the next financial year, analysts forecast that the business will report sales of $565.41 million, with estimates ranging from $563.81 million to $567.00 million. Zacks Investment Research’s sales averages are a mean 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 data on Tuesday, July 23rd. The bank reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.03. The business had revenue of $129.40 million during the quarter, compared to the consensus estimate of $133.65 million. Bank of N.T. Butterfield & Son had a return on equity of 22.69% and a net margin of 34.60%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 earnings per share.
A number of brokerages have weighed in on NTB. Zacks Investment Research downgraded Bank of N.T. Butterfield & Son from a “hold” rating to a “sell” rating in a report on Thursday, July 4th. ValuEngine lowered Bank of N.T. Butterfield & Son from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods lowered Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $51.00 to $41.00 in a research report on Sunday, July 7th. Wells Fargo & Co lowered Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $44.00 to $38.00 in a research report on Monday, July 1st. Finally, Citigroup set a $48.00 target price on Bank of N.T. Butterfield & Son and gave the company a “buy” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $44.20.
A number of hedge funds and other institutional investors have recently bought and sold shares of NTB. Dimensional Fund Advisors LP lifted its position in shares of Bank of N.T. Butterfield & Son by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 747,515 shares of the bank’s stock worth $23,435,000 after buying an additional 57,763 shares during the last quarter. Geode Capital Management LLC increased its stake in Bank of N.T. Butterfield & Son by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 189,610 shares of the bank’s stock valued at $5,944,000 after buying an additional 13,995 shares during the period. Jane Street Group LLC boosted its position in shares of Bank of N.T. Butterfield & Son by 111.2% during the 4th quarter. Jane Street Group LLC now owns 12,926 shares of the bank’s stock worth $405,000 after purchasing an additional 6,806 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $251,000. Finally, Norges Bank purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $16,297,000. Institutional investors and hedge funds own 71.86% of the company’s stock.
Shares of NYSE NTB traded down $0.83 during trading hours on Friday, reaching $26.41. 75,287 shares of the stock were exchanged, compared to its average volume of 239,495. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 1.23 and a beta of 1.79. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.15. Bank of N.T. Butterfield & Son has a 52 week low of $26.83 and a 52 week high of $53.63. The company’s fifty day simple moving average is $32.19.
The business also recently announced a dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 2nd.
About Bank of N.T. Butterfield & Son
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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