Bank of N.T. Butterfield & Son (NYSE:NTB) Announces Earnings Results

Bank of N.T. Butterfield & Son (NYSE:NTB) released its quarterly earnings data on Tuesday. The bank reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.06, Briefing.com reports. The business had revenue of $142.70 million during the quarter, compared to analysts’ expectations of $142.07 million. Bank of N.T. Butterfield & Son had a return on equity of 22.32% and a net margin of 25.97%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS.

Bank of N.T. Butterfield & Son Price Performance

Shares of NYSE NTB opened at $37.95 on Thursday. The company has a 50 day simple moving average of $37.30 and a two-hundred day simple moving average of $35.63. Bank of N.T. Butterfield & Son has a fifty-two week low of $24.62 and a fifty-two week high of $40.55. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 8.53 and a beta of 1.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NTB shares. Keefe, Bruyette & Woods downgraded shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $44.00 to $41.00 in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, The Goldman Sachs Group upped their target price on Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.60.

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 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.