The Bank of N.T. Butterfield & Son Limited (NTB) To Go Ex-Dividend on November 5th

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) declared a quarterly dividend on Thursday, October 24th, Wall Street Journal reports. Shareholders of record on Tuesday, November 5th will be paid a dividend of 0.44 per share by the bank on Tuesday, November 19th. This represents a $1.76 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Tuesday, November 5th.

Bank of N.T. Butterfield & Son has a payout ratio of 41.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of N.T. Butterfield & Son to earn $3.90 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 45.1%.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB opened at $36.75 on Friday. Bank of N.T. Butterfield & Son has a twelve month low of $25.52 and a twelve month high of $40.55. The firm has a 50 day moving average of $37.36 and a 200 day moving average of $35.93. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.66 and a quick ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Tuesday, October 22nd. The bank reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. The business had revenue of $142.70 million during the quarter, compared to analyst estimates of $142.07 million. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 EPS. Analysts predict that Bank of N.T. Butterfield & Son will post 4.52 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on NTB. Keefe, Bruyette & Woods cut shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $44.00 to $41.00 in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on shares of 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 lifted their target price on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.60.

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.