$0.93 Earnings Per Share Expected for Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) This Quarter

Analysts expect Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) to post earnings per share of $0.93 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Bank of N.T. Butterfield & Son’s earnings. The highest EPS estimate is $0.96 and the lowest is $0.89. Bank of N.T. Butterfield & Son reported earnings of $0.88 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The firm is scheduled to issue its next earnings report after the market closes on Tuesday, October 22nd.

According to Zacks, analysts expect that Bank of N.T. Butterfield & Son will report full year earnings of $3.52 per share for the current year. For the next year, analysts anticipate that the company will post earnings of $3.76 per share, with EPS estimates ranging from $3.71 to $3.80. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Bank of N.T. Butterfield & Son.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.03. The business had revenue of $129.40 million for the quarter, compared to analysts’ expectations of $133.65 million. Bank of N.T. Butterfield & Son had a net margin of 34.60% and a return on equity of 22.69%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 earnings per share.

A number of equities research analysts have weighed in on NTB shares. Zacks Investment Research upgraded shares of Bank of N.T. Butterfield & Son from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Raymond James dropped their target price on shares of Bank of N.T. Butterfield & Son from $38.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Wells Fargo & Co downgraded shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $44.00 to $38.00 in a research note on Monday, July 1st. Keefe, Bruyette & Woods downgraded shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $51.00 to $41.00 in a research note on Sunday, July 7th. Finally, Citigroup dropped their target price on shares of Bank of N.T. Butterfield & Son from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Bank of N.T. Butterfield & Son presently has an average rating of “Hold” and a consensus price target of $39.80.

NTB traded up $0.08 during midday trading on Thursday, reaching $30.67. The company’s stock had a trading volume of 92,816 shares, compared to its average volume of 209,935. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 1.35 and a beta of 1.86. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15. Bank of N.T. Butterfield & Son has a 1 year low of $26.08 and a 1 year high of $53.16. The stock’s 50-day moving average is $29.39 and its 200-day moving average is $33.17.

Several hedge funds and other institutional investors have recently modified their holdings of NTB. Envestnet Asset Management Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son in the third quarter worth $1,342,000. Assenagon Asset Management S.A. increased its stake in shares of Bank of N.T. Butterfield & Son by 57.8% in the third quarter. Assenagon Asset Management S.A. now owns 31,065 shares of the bank’s stock worth $921,000 after purchasing an additional 11,378 shares in the last quarter. Manning & Napier Group LLC grew its stake in Bank of N.T. Butterfield & Son by 16.8% during the third quarter. Manning & Napier Group LLC now owns 868,275 shares of the bank’s stock valued at $25,734,000 after acquiring an additional 124,908 shares in the last quarter. D L Carlson Investment Group Inc. purchased a new position in Bank of N.T. Butterfield & Son during the second quarter valued at $204,000. Finally, Colony Group LLC grew its stake in Bank of N.T. Butterfield & Son by 1.9% during the second quarter. Colony Group LLC now owns 54,368 shares of the bank’s stock valued at $1,846,000 after acquiring an additional 989 shares in the last quarter. Hedge funds and other institutional investors own 71.48% of the company’s stock.

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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