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

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) announced a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Stockholders of record on Tuesday, November 5th will be given a dividend of 0.44 per share by the bank on Tuesday, November 19th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Tuesday, November 5th.

Bank of N.T. Butterfield & Son has a payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank of N.T. Butterfield & Son to earn $4.35 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 40.5%.

Bank of N.T. Butterfield & Son Stock Up 0.8 %

NTB traded up $0.29 during trading hours on Thursday, reaching $38.24. 240,752 shares of the stock traded hands, compared to its average volume of 198,711. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s fifty day simple moving average is $37.30 and its two-hundred day simple moving average is $35.63. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 8.53 and a beta of 1.18. Bank of N.T. Butterfield & Son has a fifty-two week low of $24.62 and a fifty-two week high of $40.55.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.16 EPS for the quarter, topping the consensus estimate of $1.10 by $0.06. Bank of N.T. Butterfield & Son had a return on equity of 22.32% and a net margin of 25.97%. The business had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $142.07 million. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The company’s revenue was up .7% compared to the same quarter last year. As a group, analysts forecast that Bank of N.T. Butterfield & Son will post 4.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NTB shares. Wells Fargo & Company upped their target price 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 Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods cut Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $44.00 to $41.00 in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.60.

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.