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

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

Bank of N.T. Butterfield & Son Price Performance

Shares of Bank of N.T. Butterfield & Son stock traded up $0.13 on Wednesday, hitting $38.01. 37,807 shares of the company traded hands, compared to its average volume of 197,937. Bank of N.T. Butterfield & Son has a 12-month low of $24.62 and a 12-month high of $40.55. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.91 billion, a P/E ratio of 8.52 and a beta of 1.18. The firm’s 50-day simple moving average is $37.24 and its 200 day simple moving average is $35.61.

Analyst Upgrades and Downgrades

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