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

Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) announced a quarterly dividend on Monday, January 1st, NASDAQ reports. Stockholders of record on Monday, January 1st will be given a dividend of 0.44 per share by the bank on Monday, January 1st. This represents a $1.76 annualized dividend and a dividend yield of 6.76%. The ex-dividend date is Tuesday, August 4th.

Bank of N.T. Butterfield & Son has a dividend payout ratio of 67.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of N.T. Butterfield & Son to earn $2.65 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 66.4%.

Shares of NTB stock opened at $26.03 on Friday. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 8.53 and a beta of 2.21. Bank of N.T. Butterfield & Son has a one year low of $13.76 and a one year high of $38.05. The company’s 50-day simple moving average is $24.60 and its 200-day simple moving average is $25.08. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.12. The firm had revenue of $120.77 million for the quarter, compared to analysts’ expectations of $121.55 million. Bank of N.T. Butterfield & Son had a return on equity of 17.47% and a net margin of 28.51%. As a group, research analysts forecast that Bank of N.T. Butterfield & Son will post 2.73 EPS for the current year.

NTB has been the topic of several research analyst reports. Citigroup raised their price objective on Bank of N.T. Butterfield & Son from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Raymond James raised their price target on shares of Bank of N.T. Butterfield & Son from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Piper Sandler boosted their price objective on shares of Bank of N.T. Butterfield & Son from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Wells Fargo & Co cut shares of Bank of N.T. Butterfield & Son from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a report on Tuesday, June 2nd. Finally, Zacks Investment Research upgraded Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Bank of N.T. Butterfield & Son has an average rating of “Hold” and a consensus target price of $28.20.

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

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