Wall Street brokerages expect that Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) will post sales of $111.66 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Bank of N.T. Butterfield & Son Limited (The)’s earnings, with estimates ranging from $110.42 million to $112.90 million. Bank of N.T. Butterfield & Son Limited (The) posted sales of $101.26 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.3%. The company is expected to announce its next earnings results on Tuesday, October 24th.

On average, analysts expect that Bank of N.T. Butterfield & Son Limited (The) will report full-year sales of $111.66 million for the current financial year, with estimates ranging from $440.10 million to $446.80 million. For the next year, analysts anticipate that the company will report sales of $474.51 million per share, with estimates ranging from $472.41 million to $476.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Bank of N.T. Butterfield & Son Limited (The).

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last released its earnings results on Tuesday, July 25th. The bank reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $110.16 million during the quarter, compared to the consensus estimate of $109.32 million. Bank of N.T. Butterfield & Son Limited (The) had a return on equity of 17.93% and a net margin of 19.54%.

Separately, Zacks Investment Research upgraded Bank of N.T. Butterfield & Son Limited (The) from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Wednesday, June 21st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $33.20.

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Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its position in Bank of N.T. Butterfield & Son Limited (The) by 3.2% during the first quarter. Wellington Management Group LLP now owns 5,243,298 shares of the bank’s stock worth $167,314,000 after buying an additional 160,828 shares in the last quarter. FMR LLC grew its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 25.5% in the second quarter. FMR LLC now owns 2,188,148 shares of the bank’s stock valued at $74,616,000 after purchasing an additional 445,000 shares during the period. Southpoint Capital Advisors LP grew its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 28.9% in the second quarter. Southpoint Capital Advisors LP now owns 1,200,000 shares of the bank’s stock valued at $40,920,000 after purchasing an additional 268,861 shares during the period. Westfield Capital Management Co. LP grew its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 57.3% in the second quarter. Westfield Capital Management Co. LP now owns 1,117,360 shares of the bank’s stock valued at $38,102,000 after purchasing an additional 407,205 shares during the period. Finally, State Street Corp grew its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 340.7% in the second quarter. State Street Corp now owns 859,224 shares of the bank’s stock valued at $29,300,000 after purchasing an additional 664,249 shares during the period. 71.06% of the stock is owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Limited (NTB) opened at 35.37 on Tuesday. The stock’s 50 day moving average price is $33.42 and its 200 day moving average price is $33.40. Bank of N.T. Butterfield & Son Limited has a 52 week low of $23.75 and a 52 week high of $36.62. The stock has a market cap of $1.93 billion and a price-to-earnings ratio of 23.07.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 28th. Investors of record on Monday, August 14th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.28 annualized dividend and a yield of 3.50%. Bank of N.T. Butterfield & Son Limited (The)’s dividend payout ratio is presently 84.21%.

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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