Bank of N.T. Butterfield & Son Limited (The) (NTB) to Issue Quarterly Dividend of $0.50 on November 25th

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) declared a quarterly dividend on Tuesday, October 27th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.50 per share by the bank on Wednesday, November 25th. This represents a $2.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, November 10th.

Bank of N.T. Butterfield & Son has a dividend payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of N.T. Butterfield & Son to earn $7.15 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 28.0%.

Bank of N.T. Butterfield & Son Price Performance

Bank of N.T. Butterfield & Son stock opened at $58.06 on Thursday. The company’s 50-day moving average is $59.01 and its 200-day moving average is $56.59. The firm has a market capitalization of $2.43 billion, a PE ratio of 10.20 and a beta of 0.55. Bank of N.T. Butterfield & Son has a fifty-two week low of $43.33 and a fifty-two week high of $64.17.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Tuesday, October 27th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. The business had revenue of $162.24 million for the quarter, compared to analyst estimates of $160.90 million. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. During the same quarter in the prior year, the business earned $1.51 EPS. As a group, analysts expect that Bank of N.T. Butterfield & Son will post 6.25 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on NTB. Weiss Ratings restated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Tuesday, September 29th. Wells Fargo & Company increased their target price on shares of Bank of N.T. Butterfield & Son from $61.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 30th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.50.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a full-service bank headquartered in Hamilton, Bermuda. Founded in 1858, the company provides banking, wealth management and fiduciary services to individuals, businesses, institutions and international clients.

Butterfield’s banking activities include personal and commercial deposit accounts, residential and commercial lending, credit and debit cards, cash management, foreign exchange and other financial services.