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) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Stockholders of record on Tuesday, May 7th will be paid a dividend of 0.44 per share by the bank on Tuesday, May 21st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Monday, May 6th.

Bank of N.T. Butterfield & Son has a dividend payout ratio of 37.9% indicating that its dividend is sufficiently covered by earnings. 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 Bank of N.T. Butterfield & Son stock opened at $35.37 on Friday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 7.95 and a beta of 1.24. The stock’s 50-day moving average is $31.19 and its 200-day moving average is $30.05. Bank of N.T. Butterfield & Son has a one year low of $22.93 and a one year high of $36.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.66 and a quick ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Wednesday, April 24th. The bank reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.21. Bank of N.T. Butterfield & Son had a return on equity of 23.18% and a net margin of 27.95%. The business had revenue of $142.80 million for the quarter, compared to analyst estimates of $137.28 million. During the same quarter in the prior year, the company posted $1.24 earnings per share. Bank of N.T. Butterfield & Son’s revenue was down 2.9% on a year-over-year basis. Equities analysts predict that Bank of N.T. Butterfield & Son will post 4.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NTB has been the topic of several research analyst reports. Raymond James restated an “outperform” rating and issued a $36.00 price objective (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Piper Sandler reaffirmed 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 research report on Thursday, April 25th. The Goldman Sachs Group upped their target price on Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. One research 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 has a consensus rating of “Moderate Buy” and an average target price of $35.80.

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.