Zacks: Analysts Anticipate Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) Will Post Earnings of $0.96 Per Share

Equities analysts expect Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) to announce earnings per share (EPS) of $0.96 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bank of N.T. Butterfield & Son’s earnings, with estimates ranging from $0.94 to $0.97. Bank of N.T. Butterfield & Son posted earnings per share of $0.92 in the same quarter last year, which indicates a positive year over year growth rate of 4.3%. The firm is expected to issue its next earnings results on Tuesday, February 18th.

According to Zacks, analysts expect that Bank of N.T. Butterfield & Son will report full year earnings of $3.52 per share for the current financial year. For the next fiscal year, analysts forecast that the company will post earnings of $3.76 per share, with EPS estimates ranging from $3.71 to $3.80. Zacks Investment Research’s EPS 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.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.79 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.12). The company had revenue of $132.97 million during the quarter, compared to analyst estimates of $138.14 million. Bank of N.T. Butterfield & Son had a net margin of 32.27% and a return on equity of 22.09%. During the same period in the prior year, the firm earned $0.88 EPS.

A number of research firms have commented on NTB. Zacks Investment Research raised Bank of N.T. Butterfield & Son from a “sell” rating to a “hold” rating in a research note on Saturday, November 2nd. ValuEngine upgraded Bank of N.T. Butterfield & Son from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co dropped their target price on Bank of N.T. Butterfield & Son from $38.00 to $35.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Raymond James dropped their target price on Bank of N.T. Butterfield & Son from $38.00 to $36.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, Citigroup dropped their target price on Bank of N.T. Butterfield & Son from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Bank of N.T. Butterfield & Son has a consensus rating of “Hold” and an average target price of $39.20.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Systematic Financial Management LP acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at $529,000. SRS Capital Advisors Inc. acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 3rd quarter valued at $69,000. Huntington National Bank acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 3rd quarter valued at $39,000. California Public Employees Retirement System boosted its holdings in shares of Bank of N.T. Butterfield & Son by 19.3% during the 3rd quarter. California Public Employees Retirement System now owns 101,245 shares of the bank’s stock valued at $3,001,000 after acquiring an additional 16,400 shares in the last quarter. Finally, BB&T Securities LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 33.9% during the 3rd quarter. BB&T Securities LLC now owns 20,034 shares of the bank’s stock valued at $592,000 after acquiring an additional 5,071 shares in the last quarter. Institutional investors and hedge funds own 72.00% of the company’s stock.

NTB stock traded down $0.11 during trading on Friday, hitting $34.07. The company had a trading volume of 3,401 shares, compared to its average volume of 219,094. The company has a fifty day moving average price of $30.73 and a two-hundred day moving average price of $32.72. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.86 billion, a P/E ratio of 9.65, a P/E/G ratio of 1.50 and a beta of 1.88. Bank of N.T. Butterfield & Son has a fifty-two week low of $26.08 and a fifty-two week high of $42.40.

The business also recently disclosed a dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, November 1st.

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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