Bank of N.T. Butterfield & Son Ltd (NTB) Expected to Announce Quarterly Sales of $131.96 Million

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Wall Street brokerages expect Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) to announce $131.96 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Bank of N.T. Butterfield & Son’s earnings, with the highest sales estimate coming in at $133.92 million and the lowest estimate coming in at $130.00 million. Bank of N.T. Butterfield & Son reported sales of $118.50 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.4%. The firm is scheduled to issue its next earnings report on Thursday, February 21st.

On average, analysts expect that Bank of N.T. Butterfield & Son will report full year sales of $509.73 million for the current financial year, with estimates ranging from $507.90 million to $511.56 million. For the next year, analysts anticipate that the company will post sales of $572.47 million, with estimates ranging from $570.60 million to $574.33 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Bank of N.T. Butterfield & Son.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Wednesday, October 24th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.05). Bank of N.T. Butterfield & Son had a net margin of 35.65% and a return on equity of 22.33%. The firm had revenue of $129.55 million during the quarter, compared to analyst estimates of $132.36 million.

Several research analysts have recently issued reports on NTB shares. Zacks Investment Research raised Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Saturday, October 6th. TheStreet raised Bank of N.T. Butterfield & Son from a “c” rating to a “b-” rating in a research note on Monday, September 17th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Bank of N.T. Butterfield & Son in a research note on Wednesday, October 24th. Finally, Raymond James lowered their price objective on Bank of N.T. Butterfield & Son from $56.00 to $49.00 and set an “outperform” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Bank of N.T. Butterfield & Son currently has a consensus rating of “Hold” and an average price target of $50.50.

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in Bank of N.T. Butterfield & Son by 2.3% in the second quarter. Rhumbline Advisers now owns 50,897 shares of the bank’s stock valued at $2,327,000 after acquiring an additional 1,125 shares during the last quarter. Amalgamated Bank boosted its holdings in Bank of N.T. Butterfield & Son by 16.3% in the second quarter. Amalgamated Bank now owns 8,343 shares of the bank’s stock valued at $381,000 after acquiring an additional 1,171 shares during the last quarter. BB&T Securities LLC boosted its holdings in Bank of N.T. Butterfield & Son by 24.3% in the second quarter. BB&T Securities LLC now owns 9,363 shares of the bank’s stock valued at $428,000 after acquiring an additional 1,829 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in Bank of N.T. Butterfield & Son in the third quarter valued at approximately $116,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Bank of N.T. Butterfield & Son by 48.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 8,220 shares of the bank’s stock valued at $376,000 after acquiring an additional 2,674 shares during the last quarter. Institutional investors and hedge funds own 74.11% of the company’s stock.

Bank of N.T. Butterfield & Son stock opened at $41.54 on Friday. Bank of N.T. Butterfield & Son has a 1 year low of $35.65 and a 1 year high of $53.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $2.25 billion, a PE ratio of 14.52, a PEG ratio of 1.94 and a beta of 1.60.

The business also recently announced a dividend, which will be paid on Friday, November 16th. Investors of record on Monday, November 5th will be issued a $0.38 dividend. The ex-dividend date is Friday, November 2nd. Bank of N.T. Butterfield & Son’s payout ratio is presently 24.48%.

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 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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