Bank of N.T. Butterfield & Son (NTB) Issues Earnings Results, Meets Estimates

Bank of N.T. Butterfield & Son (NYSE:NTB) released its quarterly earnings data on Thursday. The bank reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76, Morningstar.com reports. Bank of N.T. Butterfield & Son had a net margin of 22.83% and a return on equity of 19.90%.

Bank of N.T. Butterfield & Son (NTB) opened at $41.00 on Thursday. Bank of N.T. Butterfield & Son has a 52-week low of $29.81 and a 52-week high of $41.38. The stock has a market cap of $2,141.24, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.94 and a beta of 1.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.60 and a quick ratio of 0.60.

Hedge funds have recently added to or reduced their stakes in the business. Quantitative Systematic Strategies LLC purchased a new position in shares of Bank of N.T. Butterfield & Son in the third quarter valued at about $1,027,000. Russell Investments Group Ltd. boosted its stake in shares of Bank of N.T. Butterfield & Son by 15.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 38,971 shares of the bank’s stock valued at $1,428,000 after purchasing an additional 5,210 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Bank of N.T. Butterfield & Son by 290.6% during the 2nd quarter. California State Teachers Retirement System now owns 95,300 shares of the bank’s stock valued at $3,250,000 after purchasing an additional 70,900 shares in the last quarter. Systematic Financial Management LP bought a new stake in shares of Bank of N.T. Butterfield & Son during the 3rd quarter valued at about $1,704,000. Finally, Castine Capital Management LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 18.4% during the 3rd quarter. Castine Capital Management LLC now owns 345,000 shares of the bank’s stock valued at $12,641,000 after purchasing an additional 53,695 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

NTB has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Friday, October 27th. Citigroup restated a “neutral” rating and issued a $42.00 price objective on shares of Bank of N.T. Butterfield & Son in a research report on Wednesday. Finally, Wells Fargo & Co upgraded shares of Bank of N.T. Butterfield & Son from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research report on Tuesday, January 9th.

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About Bank of N.T. Butterfield & Son

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.

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

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