The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Expected to Post Quarterly Sales of $125.15 Million

Wall Street brokerages expect that The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) will report sales of $125.15 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Bank of N.T. Butterfield & Son’s earnings, with the lowest sales estimate coming in at $124.60 million and the highest estimate coming in at $125.70 million. Bank of N.T. Butterfield & Son reported sales of $123.30 million in the same quarter last year, which indicates a positive year over year growth rate of 1.5%. The firm is expected to announce its next quarterly earnings results on Wednesday, February 9th.

On average, analysts expect that Bank of N.T. Butterfield & Son will report full year sales of $495.55 million for the current year, with estimates ranging from $494.60 million to $496.50 million. For the next fiscal year, analysts anticipate that the firm will post sales of $505.05 million, with estimates ranging from $503.80 million to $506.30 million. Zacks Investment Research’s sales calculations 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 posted its quarterly earnings results on Tuesday, October 26th. The bank reported $0.80 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.01). The firm had revenue of $124.70 million during the quarter, compared to analyst estimates of $123.53 million. Bank of N.T. Butterfield & Son had a net margin of 31.69% and a return on equity of 17.12%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.73 EPS.

NTB has been the subject of several recent research reports. Wells Fargo & Company upped their price target on Bank of N.T. Butterfield & Son from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, October 7th. Zacks Investment Research cut Bank of N.T. Butterfield & Son from a “hold” rating to a “sell” rating in a report on Tuesday, November 2nd. Finally, Raymond James dropped their target price on Bank of N.T. Butterfield & Son from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Thursday, July 29th.

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in Bank of N.T. Butterfield & Son by 7.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 165,681 shares of the bank’s stock valued at $6,048,000 after purchasing an additional 11,896 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Bank of N.T. Butterfield & Son by 116.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,064 shares of the bank’s stock valued at $464,000 after purchasing an additional 7,029 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Bank of N.T. Butterfield & Son by 101.5% during the 3rd quarter. Two Sigma Advisers LP now owns 92,100 shares of the bank’s stock valued at $3,270,000 after purchasing an additional 46,400 shares in the last quarter. Two Sigma Investments LP increased its holdings in Bank of N.T. Butterfield & Son by 121.5% during the 3rd quarter. Two Sigma Investments LP now owns 62,585 shares of the bank’s stock valued at $2,222,000 after purchasing an additional 34,328 shares in the last quarter. Finally, Citadel Advisors LLC increased its holdings in Bank of N.T. Butterfield & Son by 27.4% during the 3rd quarter. Citadel Advisors LLC now owns 26,213 shares of the bank’s stock valued at $931,000 after purchasing an additional 5,642 shares in the last quarter. 63.03% of the stock is owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son stock traded down $0.03 during trading hours on Thursday, hitting $40.04. The stock had a trading volume of 83,230 shares, compared to its average volume of 133,355. The company has a 50-day moving average of $37.27 and a two-hundred day moving average of $35.97. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.15 billion, a PE ratio of 12.24 and a beta of 1.83. Bank of N.T. Butterfield & Son has a fifty-two week low of $29.99 and a fifty-two week high of $41.36.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 24th. Stockholders of record on Wednesday, November 10th were issued a $0.44 dividend. The ex-dividend date of this dividend was Tuesday, November 9th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.40%. Bank of N.T. Butterfield & Son’s payout ratio is presently 53.82%.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Guernsey, The Bahamas, Switzerland, and the United Kingdom. The Bermuda and the Cayman Islands segment offers a range of retail and corporate banking services to individuals, local businesses, captive insurers, reinsurance companies, trust companies, and hedge funds.

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

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