The Bank of N.T. Butterfield & Son Limited (NTB) to Issue Quarterly Dividend of $0.44 on May 21st

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Tuesday, May 7th will be given a dividend of 0.44 per share by the bank on Tuesday, May 21st. This represents a $1.76 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Monday, May 6th.

Bank of N.T. Butterfield & Son has a dividend payout ratio of 37.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank of N.T. Butterfield & Son to earn $4.70 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 37.4%.

Bank of N.T. Butterfield & Son Stock Performance

NTB stock opened at $35.37 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.78 billion, a P/E ratio of 7.95 and a beta of 1.24. Bank of N.T. Butterfield & Son has a 12-month low of $22.93 and a 12-month high of $36.00. The stock’s 50 day simple moving average is $31.19 and its 200 day simple moving average is $30.05.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.21. The business had revenue of $142.80 million for the quarter, compared to analyst estimates of $137.28 million. Bank of N.T. Butterfield & Son had a return on equity of 23.18% and a net margin of 27.95%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 EPS. As a group, equities research analysts predict that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current year.

Wall Street Analysts Forecast Growth

NTB has been the subject of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 target price (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price objective on Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Raymond James reissued an “outperform” rating and issued a $36.00 price objective (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group increased their price objective on Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.80.

Bank of N.T. Butterfield & Son Company Profile

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 interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.