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

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) announced a quarterly dividend on Monday, February 10th, Wall Street Journal reports. Stockholders of record on Monday, February 24th will be given a dividend of 0.44 per share by the bank on Monday, March 10th. This represents a $1.76 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Monday, February 24th.

Bank of N.T. Butterfield & Son has a dividend payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bank of N.T. Butterfield & Son to earn $4.85 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 36.3%.

Bank of N.T. Butterfield & Son Trading Down 2.3 %

NYSE:NTB opened at $38.55 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.66. The firm has a 50-day moving average of $37.33 and a 200-day moving average of $37.25. The company has a market cap of $1.83 billion, a PE ratio of 8.17 and a beta of 1.15. Bank of N.T. Butterfield & Son has a one year low of $29.06 and a one year high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Monday, February 10th. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. As a group, equities research analysts expect that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NTB shares. Wells Fargo & Company boosted their target price on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods boosted their target price on shares of Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. One investment 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.com, Bank of N.T. Butterfield & Son presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.80.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.