The Bank of N.T. Butterfield & Son Limited to Issue Quarterly Dividend of $0.44 (NYSE:NTB)

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) declared a quarterly dividend on Monday, July 22nd, NASDAQ reports. Shareholders of record on Monday, August 5th will be given a dividend of 0.44 per share by the bank on Monday, August 19th. This represents a $1.76 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Monday, August 5th.

Bank of N.T. Butterfield & Son has a dividend payout ratio of 38.9% indicating that its dividend is sufficiently covered by earnings. Equities 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 opened at $35.62 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The company’s fifty day moving average price is $35.54 and its two-hundred day moving average price is $32.96. Bank of N.T. Butterfield & Son has a 1-year low of $24.62 and a 1-year high of $40.55.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Monday, July 22nd. The bank reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.04. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The firm had revenue of $143.10 million for the quarter, compared to the consensus estimate of $139.75 million. During the same quarter in the prior year, the company posted $1.14 earnings per share. The business’s revenue was up .4% on a year-over-year basis. As a group, equities research analysts expect that Bank of N.T. Butterfield & Son will post 4.55 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on NTB. Raymond James restated an “outperform” rating and set a $36.00 price objective (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. Wells Fargo & Company increased their target price on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. Finally, The Goldman Sachs Group increased their target price on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.40.

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.