Zacks: Brokerages Expect Bank of N.T. Butterfield & Son Ltd (NTB) to Post $0.95 Earnings Per Share

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Wall Street analysts forecast that Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) will post earnings of $0.95 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Bank of N.T. Butterfield & Son’s earnings, with the lowest EPS estimate coming in at $0.93 and the highest estimate coming in at $0.97. Bank of N.T. Butterfield & Son posted earnings of $0.74 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 28.4%. The firm is expected to announce its next quarterly earnings results after the market closes on Tuesday, October 23rd.

On average, analysts expect that Bank of N.T. Butterfield & Son will report full-year earnings of $3.64 per share for the current fiscal year. For the next financial year, analysts forecast that the firm will post earnings of $4.38 per share, with EPS estimates ranging from $4.24 to $4.51. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Bank of N.T. Butterfield & Son.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Wednesday, July 25th. The bank reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. The company had revenue of $129.34 million for the quarter, compared to analyst estimates of $126.52 million. Bank of N.T. Butterfield & Son had a net margin of 35.22% and a return on equity of 21.83%.

A number of research analysts have commented on NTB shares. Zacks Investment Research lowered shares of Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Raymond James lifted their price objective on shares of Bank of N.T. Butterfield & Son from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, July 30th. Finally, TheStreet upgraded shares of Bank of N.T. Butterfield & Son from a “c” rating to a “b-” rating in a research note on Monday, September 17th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $53.17.

Several institutional investors have recently modified their holdings of NTB. Manning & Napier Group LLC acquired a new position in shares of Bank of N.T. Butterfield & Son during the third quarter worth about $31,164,000. Millennium Management LLC increased its stake in shares of Bank of N.T. Butterfield & Son by 238.4% during the second quarter. Millennium Management LLC now owns 711,794 shares of the bank’s stock worth $32,543,000 after acquiring an additional 501,431 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Bank of N.T. Butterfield & Son by 84.2% during the first quarter. Dimensional Fund Advisors LP now owns 666,444 shares of the bank’s stock worth $29,910,000 after acquiring an additional 304,693 shares during the period. American Century Companies Inc. increased its stake in shares of Bank of N.T. Butterfield & Son by 241.7% during the second quarter. American Century Companies Inc. now owns 349,104 shares of the bank’s stock worth $15,961,000 after acquiring an additional 246,941 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Bank of N.T. Butterfield & Son by 1,707.7% during the first quarter. JPMorgan Chase & Co. now owns 239,596 shares of the bank’s stock worth $10,753,000 after acquiring an additional 226,342 shares during the period. Institutional investors and hedge funds own 72.86% of the company’s stock.

NYSE NTB opened at $50.90 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.37 and a beta of 0.63. Bank of N.T. Butterfield & Son has a one year low of $34.86 and a one year high of $53.63.

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 non-interest bearing deposits, as well as certificates of deposits. The company's lending portfolio includes residential mortgage lending, automobile financing, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.

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