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

Equities research analysts expect Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) to announce earnings of $0.93 per share for the current quarter, according to Zacks. Two analysts have made estimates for Bank of N.T. Butterfield & Son’s earnings. The lowest EPS estimate is $0.89 and the highest is $0.96. Bank of N.T. Butterfield & Son posted earnings per share of $0.88 during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.7%. The company is scheduled to announce its next earnings report after the market closes on Tuesday, October 22nd.

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

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

A number of analysts have commented on the stock. ValuEngine raised shares of Bank of N.T. Butterfield & Son from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Raymond James reduced their target price on shares of Bank of N.T. Butterfield & Son from $38.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Keefe, Bruyette & Woods cut shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $51.00 to $41.00 in a report on Sunday, July 7th. Wells Fargo & Co cut shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $44.00 to $38.00 in a research note on Monday, July 1st. Finally, Citigroup reduced their price objective on shares of Bank of N.T. Butterfield & Son from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Bank of N.T. Butterfield & Son has an average rating of “Hold” and a consensus price target of $39.80.

Several hedge funds and other institutional investors have recently made changes to their positions in NTB. Nisa Investment Advisors LLC lifted its position in Bank of N.T. Butterfield & Son by 341.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,700 shares of the bank’s stock valued at $397,000 after acquiring an additional 9,050 shares in the last quarter. First Hawaiian Bank lifted its position in Bank of N.T. Butterfield & Son by 47.9% in the 2nd quarter. First Hawaiian Bank now owns 8,860 shares of the bank’s stock valued at $301,000 after acquiring an additional 2,870 shares in the last quarter. Cornerstone Advisors Inc. lifted its position in Bank of N.T. Butterfield & Son by 154.1% in the 2nd quarter. Cornerstone Advisors Inc. now owns 780 shares of the bank’s stock valued at $26,000 after acquiring an additional 473 shares in the last quarter. Manning & Napier Group LLC lifted its position in Bank of N.T. Butterfield & Son by 24.4% in the 2nd quarter. Manning & Napier Group LLC now owns 743,367 shares of the bank’s stock valued at $25,244,000 after acquiring an additional 145,642 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in Bank of N.T. Butterfield & Son by 4.0% in the 2nd quarter. Pinnacle Associates Ltd. now owns 88,148 shares of the bank’s stock valued at $2,994,000 after acquiring an additional 3,350 shares in the last quarter. 71.48% of the stock is owned by hedge funds and other institutional investors.

NTB stock traded up $0.08 during midday trading on Thursday, reaching $30.67. 92,816 shares of the company’s stock traded hands, compared to its average volume of 209,935. Bank of N.T. Butterfield & Son has a 52-week low of $26.08 and a 52-week high of $53.16. The stock has a market cap of $1.67 billion, a P/E 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. The stock’s 50-day moving average is $29.39 and its 200 day moving average is $33.17.

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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