Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) Expected to Post Quarterly Sales of $136.99 Million

Analysts predict that Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) will announce sales of $136.99 million for the current quarter, Zacks reports. Two analysts have provided estimates for Bank of N.T. Butterfield & Son’s earnings, with the highest sales estimate coming in at $140.07 million and the lowest estimate coming in at $133.90 million. Bank of N.T. Butterfield & Son reported sales of $129.55 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.7%. The business is scheduled to report its next quarterly earnings results on Tuesday, October 22nd.

On average, analysts expect that Bank of N.T. Butterfield & Son will report full-year sales of $539.27 million for the current financial year, with estimates ranging from $537.00 million to $541.54 million. For the next year, analysts expect that the company will post sales of $565.41 million, with estimates ranging from $563.81 million to $567.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Bank of N.T. Butterfield & Son.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.03. The business had revenue of $129.40 million during the quarter, compared to the consensus estimate of $133.65 million. Bank of N.T. Butterfield & Son had a net margin of 34.60% and a return on equity of 22.69%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share.



A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $51.00 to $41.00 in a research report on Sunday, July 7th. Citigroup set a $48.00 target price on shares of Bank of N.T. Butterfield & Son and gave the company a “buy” rating in a research report on Friday, July 26th. Zacks Investment Research downgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. Wells Fargo & Co downgraded shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $44.00 to $38.00 in a research report on Monday, July 1st. Finally, ValuEngine downgraded shares of Bank of N.T. Butterfield & Son from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Bank of N.T. Butterfield & Son presently has an average rating of “Hold” and an average target price of $44.20.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP purchased a new stake in Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $974,000. Voloridge Investment Management LLC purchased a new stake in Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $277,000. Laffer Investments grew its stake in Bank of N.T. Butterfield & Son by 5.3% during the 2nd quarter. Laffer Investments now owns 16,628 shares of the bank’s stock valued at $565,000 after acquiring an additional 830 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $30,852,000. Finally, Jane Street Group LLC purchased a new stake in Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $373,000. 71.86% of the stock is owned by institutional investors.

NYSE NTB traded up $0.62 on Friday, reaching $27.06. 265,900 shares of the company’s stock traded hands, compared to its average volume of 242,480. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 1.18 and a beta of 1.79. The stock has a 50 day moving average price of $31.85 and a 200-day moving average price of $35.65. Bank of N.T. Butterfield & Son has a fifty-two week low of $26.08 and a fifty-two week high of $53.63. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.65 and a current ratio of 0.65.

The company also recently disclosed a dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 2nd.

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.

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