Analysts Expect Bank of N.T. Butterfield & Son Limited (The) (NTB) Will Post Quarterly Sales of $111.66 Million

Equities research analysts predict that Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) will report sales of $111.66 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Bank of N.T. Butterfield & Son Limited (The)’s earnings. The lowest sales estimate is $110.42 million and the highest is $112.90 million. Bank of N.T. Butterfield & Son Limited (The) posted sales of $101.26 million during the same quarter last year, which suggests a positive year over year growth rate of 10.3%. The business is scheduled to announce its next earnings results on Tuesday, October 24th.

On average, analysts expect that Bank of N.T. Butterfield & Son Limited (The) will report full-year sales of $111.66 million for the current year, with estimates ranging from $440.10 million to $446.80 million. For the next year, analysts expect that the company will report sales of $474.51 million per share, with estimates ranging from $472.41 million to $476.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Bank of N.T. Butterfield & Son Limited (The).

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.67 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.67. The business had revenue of $110.16 million for the quarter, compared to the consensus estimate of $109.32 million. Bank of N.T. Butterfield & Son Limited (The) had a return on equity of 17.93% and a net margin of 19.54%.

Separately, Zacks Investment Research upgraded shares of Bank of N.T. Butterfield & Son Limited (The) from a “sell” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $31.75.

Bank of N.T. Butterfield & Son Limited (NYSE NTB) traded up 0.73% during trading on Thursday, hitting $31.76. The stock had a trading volume of 329,525 shares. The company has a market cap of $1.73 billion and a PE ratio of 12.81. Bank of N.T. Butterfield & Son Limited has a 12 month low of $23.75 and a 12 month high of $35.68. The company’s 50 day moving average is $33.46 and its 200-day moving average is $33.32.

The business also recently announced a quarterly dividend, which was paid on Monday, August 28th. Shareholders of record on Monday, August 14th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, August 10th. This represents a $1.28 annualized dividend and a yield of 4.03%. Bank of N.T. Butterfield & Son Limited (The)’s payout ratio is presently 84.21%.

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A number of institutional investors have recently made changes to their positions in NTB. Westfield Capital Management Co. LP bought a new stake in Bank of N.T. Butterfield & Son Limited (The) during the first quarter valued at approximately $22,661,000. Point72 Asset Management L.P. bought a new stake in Bank of N.T. Butterfield & Son Limited (The) during the first quarter valued at approximately $22,417,000. State Street Corp lifted its position in Bank of N.T. Butterfield & Son Limited (The) by 340.7% during the second quarter. State Street Corp now owns 859,224 shares of the bank’s stock valued at $29,300,000 after purchasing an additional 664,249 shares during the last quarter. Monashee Investment Management LLC lifted its position in Bank of N.T. Butterfield & Son Limited (The) by 1,125.6% during the first quarter. Monashee Investment Management LLC now owns 500,000 shares of the bank’s stock valued at $15,955,000 after purchasing an additional 459,203 shares during the last quarter. Finally, FMR LLC lifted its position in Bank of N.T. Butterfield & Son Limited (The) by 25.5% during the second quarter. FMR LLC now owns 2,188,148 shares of the bank’s stock valued at $74,616,000 after purchasing an additional 445,000 shares during the last quarter. Institutional investors and hedge funds own 71.25% of the company’s stock.

About Bank of N.T. Butterfield & Son Limited (The)

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

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