Analysts Anticipate Bank of N.T. Butterfield & Son Ltd (NTB) Will Post Quarterly Sales of $133.29 Million

Equities research analysts expect Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) to announce sales of $133.29 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Bank of N.T. Butterfield & Son’s earnings, with the highest sales estimate coming in at $135.10 million and the lowest estimate coming in at $131.47 million. Bank of N.T. Butterfield & Son posted sales of $119.66 million in the same quarter last year, which suggests a positive year over year growth rate of 11.4%. The company is expected to announce its next earnings report on Monday, April 22nd.

According to Zacks, analysts expect that Bank of N.T. Butterfield & Son will report full year sales of $549.74 million for the current financial year, with estimates ranging from $545.88 million to $553.60 million. For the next year, analysts expect that the company will post sales of $583.88 million, with estimates ranging from $582.96 million to $584.80 million. Zacks’ sales calculations 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 released its quarterly earnings data on Tuesday, February 19th. The bank reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.03. The business had revenue of $133.10 million for the quarter, compared to the consensus estimate of $131.96 million. Bank of N.T. Butterfield & Son had a net margin of 36.86% and a return on equity of 22.98%. During the same period in the prior year, the firm earned $0.76 earnings per share.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Bank of N.T. Butterfield & Son from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. ValuEngine cut Bank of N.T. Butterfield & Son from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. Finally, Citigroup upgraded Bank of N.T. Butterfield & Son from a “neutral” rating to a “buy” rating and decreased their price target for the company from $43.00 to $42.00 in a research report on Tuesday, January 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Bank of N.T. Butterfield & Son presently has an average rating of “Buy” and a consensus price target of $50.50.

Shares of NTB traded up $0.48 during midday trading on Wednesday, hitting $35.88. 225,495 shares of the company traded hands, compared to its average volume of 299,272. Bank of N.T. Butterfield & Son has a one year low of $29.42 and a one year high of $53.63. The stock has a market cap of $1.94 billion, a PE ratio of 10.16, a P/E/G ratio of 1.55 and a beta of 1.84. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.16.

The business also recently declared a dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Bank of N.T. Butterfield & Son’s previous dividend of $0.38.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ramsey Quantitative Systems bought a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth approximately $176,000. Jane Street Group LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the third quarter worth approximately $317,000. Amalgamated Bank bought a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth approximately $251,000. SG Americas Securities LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth approximately $267,000. Finally, Virtu Financial LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth approximately $275,000. Hedge funds and other institutional investors own 76.52% of the company’s stock.

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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