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

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) declared a quarterly dividend on Monday, July 22nd, NASDAQ reports. Investors of record on Monday, August 5th will be paid 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% meaning its dividend is sufficiently covered by earnings. Equities research 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

Shares of NTB stock opened at $35.62 on Friday. The stock has a 50-day simple moving average of $35.54 and a 200 day simple moving average of $32.96. 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 quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on NTB. Wells Fargo & Company raised their price objective on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group raised their price objective on 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. Piper Sandler restated an “overweight” rating and set a $38.00 price objective (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. Finally, Raymond James reaffirmed an “outperform” rating and set a $36.00 price target (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.