The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) to Issue $0.44 Quarterly Dividend

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Tuesday, May 7th will be given a dividend of 0.44 per share by the bank on Tuesday, May 21st. This represents a $1.76 annualized dividend and a dividend yield of 5.23%. The ex-dividend date is Monday, May 6th.

Bank of N.T. Butterfield & Son Price Performance

Shares of NYSE:NTB traded down $0.03 during midday trading on Thursday, hitting $33.63. 40,222 shares of the stock were exchanged, compared to its average volume of 210,012. The company has a 50 day moving average price of $30.72 and a 200-day moving average price of $29.77. Bank of N.T. Butterfield & Son has a twelve month low of $22.93 and a twelve month high of $34.00. The stock has a market cap of $1.69 billion, a P/E ratio of 7.56 and a beta of 1.29. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Wednesday, April 24th. The bank reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.21. Bank of N.T. Butterfield & Son had a return on equity of 23.40% and a net margin of 29.60%. The company had revenue of $142.80 million during the quarter, compared to the consensus estimate of $137.28 million. During the same quarter in the previous year, the company posted $1.24 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. On average, research analysts forecast that Bank of N.T. Butterfield & Son will post 4.12 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on NTB. The Goldman Sachs Group raised their target price on shares of Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods cut their target price on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.40.

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 interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.