Bank of N.T. Butterfield & Son Limited (The) (NTB) to Issue Quarterly Dividend of $0.50 on May 26th

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) declared a quarterly dividend on Tuesday, April 28th. Shareholders of record on Wednesday, May 13th will be paid a dividend of 0.50 per share by the bank on Tuesday, May 26th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, May 13th.

Bank of N.T. Butterfield & Son has raised its dividend payment by an average of 0.0%annually over the last three years. Bank of N.T. Butterfield & Son has a payout ratio of 38.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of N.T. Butterfield & Son to earn $6.90 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 29.0%.

Bank of N.T. Butterfield & Son Trading Down 0.0%

Shares of Bank of N.T. Butterfield & Son stock opened at $56.34 on Monday. Bank of N.T. Butterfield & Son has a 12-month low of $40.59 and a 12-month high of $57.84. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 9.75 and a beta of 0.51. The firm’s 50 day simple moving average is $53.31 and its two-hundred day simple moving average is $50.52.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Tuesday, April 28th. The bank reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.15. The business had revenue of $93.29 million for the quarter, compared to the consensus estimate of $150.09 million. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%.The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 EPS. On average, sell-side analysts predict that Bank of N.T. Butterfield & Son will post 6.32 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son announced that its board has authorized a stock buyback plan on Monday, February 9th that permits the company to buyback $3.00 million in outstanding shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.