Bank of N.T. Butterfield & Son Limited (The) (NTB) to Issue Quarterly Dividend of $0.50 on March 9th

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) declared a quarterly dividend on Monday, February 9th. Stockholders of record on Monday, February 23rd will be paid a dividend of 0.50 per share by the bank on Monday, March 9th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, February 23rd.

Bank of N.T. Butterfield & Son has increased its dividend by an average of 0.3%per year over the last three years. Bank of N.T. Butterfield & Son has a dividend payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bank of N.T. Butterfield & Son to earn $4.85 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 41.2%.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB stock opened at $52.96 on Wednesday. The firm has a fifty day moving average of $50.78 and a 200-day moving average of $46.72. Bank of N.T. Butterfield & Son has a 12-month low of $34.85 and a 12-month high of $54.91.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Monday, February 9th. The bank reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.08. The firm had revenue of $158.90 million during the quarter, compared to analysts’ expectations of $153.49 million. Bank of N.T. Butterfield & Son had a return on equity of 22.04% and a net margin of 28.27%.During the same period in the previous year, the firm earned $1.34 earnings per share. Equities analysts predict that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

Large investors have recently added to or reduced their stakes in the business. Bell Investment Advisors Inc increased its holdings in shares of Bank of N.T. Butterfield & Son by 284.4% in the third quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock valued at $26,000 after purchasing an additional 455 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 204.3% during the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after purchasing an additional 523 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Bank of N.T. Butterfield & Son by 234.1% in the third quarter. Jones Financial Companies Lllp now owns 959 shares of the bank’s stock valued at $42,000 after buying an additional 672 shares during the period. PNC Financial Services Group Inc. increased its stake in Bank of N.T. Butterfield & Son by 3,371.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock worth $46,000 after acquiring an additional 1,045 shares during the period. Finally, CIBC Private Wealth Group LLC acquired a new position in Bank of N.T. Butterfield & Son in the 3rd quarter valued at $56,000. Institutional investors own 62.73% of the company’s stock.

About Bank of N.T. Butterfield & Son

Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a Bermuda-based provider of banking and wealth management services. Founded in 1858, the firm has grown from a local colonial bank into an international financial institution. With a focus on personalized client service, Butterfield offers a comprehensive suite of banking and fiduciary solutions to private individuals, families, and corporate clients.

The bank’s core activities include private banking, retail and commercial lending, trust and corporate administration, and fund services.