Bank of N.T. Butterfield & Son (NYSE:NTB) Issues Earnings Results

Bank of N.T. Butterfield & Son (NYSE:NTB) released its quarterly earnings data on Tuesday. The bank reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.06, Briefing.com reports. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The firm had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $142.07 million. During the same quarter last year, the business posted $1.16 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year.

Bank of N.T. Butterfield & Son Trading Up 0.1 %

NTB stock traded up $0.05 during midday trading on Wednesday, reaching $37.93. The company’s stock had a trading volume of 32,478 shares, compared to its average volume of 197,913. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 8.52 and a beta of 1.18. Bank of N.T. Butterfield & Son has a 1 year low of $24.62 and a 1 year high of $40.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a fifty day simple moving average of $37.24 and a two-hundred day simple moving average of $35.61.

Analyst Ratings Changes

Several research firms have recently weighed in on NTB. Wells Fargo & Company boosted their target price on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted their price objective on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods lowered shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $44.00 to $41.00 in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.60.

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 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.