Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) declared a quarterly dividend on Friday, February 14th, Wall Street Journal reports. Stockholders of record on Wednesday, February 26th will be paid a dividend of 0.44 per share by the bank on Wednesday, March 11th. This represents a $1.76 annualized dividend and a dividend yield of 5.22%. The ex-dividend date is Tuesday, February 25th. This is an increase from Bank of N.T. Butterfield & Son’s previous quarterly dividend of $0.38.
Bank of N.T. Butterfield & Son has raised its dividend payment by an average of 11.2% annually over the last three years and has raised its dividend every year for the last 2 years. Bank of N.T. Butterfield & Son has a payout ratio of 49.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank of N.T. Butterfield & Son to earn $3.69 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 47.7%.
Shares of Bank of N.T. Butterfield & Son stock traded down $0.52 during trading hours on Friday, hitting $33.72. The company’s stock had a trading volume of 161,589 shares, compared to its average volume of 163,874. The business has a 50 day moving average price of $35.47 and a two-hundred day moving average price of $32.42. Bank of N.T. Butterfield & Son has a 12-month low of $26.08 and a 12-month high of $41.84. The company has a market cap of $1.82 billion, a PE ratio of 9.95, a PEG ratio of 1.54 and a beta of 1.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.72 and a current ratio of 0.72.
Several equities analysts have recently commented on NTB shares. Zacks Investment Research downgraded Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. TheStreet upgraded Bank of N.T. Butterfield & Son from a “c+” rating to a “b-” rating in a research report on Friday, November 8th. ValuEngine downgraded Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Finally, Citigroup lowered their price objective on Bank of N.T. Butterfield & Son from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $38.00.
Bank of N.T. Butterfield & Son Company Profile
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.
Further Reading: What are no-load funds?
Receive News & Ratings for Bank of N.T. Butterfield & Son Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of N.T. Butterfield & Son and related companies with MarketBeat.com's FREE daily email newsletter.