Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) announced a quarterly dividend on Friday, July 24th, Wall Street Journal reports. Shareholders of record on Wednesday, August 5th will be given a dividend of 0.44 per share by the bank on Wednesday, August 19th. This represents a $1.76 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date of this dividend is Tuesday, August 4th.
Bank of N.T. Butterfield & Son has a dividend payout ratio of 67.4% indicating that its dividend is sufficiently covered by earnings. Equities 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%.
NTB stock opened at $26.03 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.72 and a current ratio of 0.72. 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 1 year low of $13.76 and a 1 year high of $38.05. The stock’s fifty day moving average is $24.60 and its two-hundred day moving average is $25.08.
Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. Bank of N.T. Butterfield & Son had a net margin of 28.51% and a return on equity of 17.47%. The business had revenue of $120.77 million for the quarter, compared to analysts’ expectations of $121.55 million. As a group, analysts predict that Bank of N.T. Butterfield & Son will post 2.73 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on NTB shares. Raymond James lifted their price objective on shares of Bank of N.T. Butterfield & Son from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. 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 price objective on the stock. in a research note on Tuesday, June 2nd. Piper Sandler lifted 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 note on Friday, July 24th. Zacks Investment Research upgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday. Finally, Citigroup lifted their target price on Bank of N.T. Butterfield & Son from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target 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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