Bank of N.T. Butterfield & Son (NYSE:NTB) Announces Earnings Results, Beats Estimates By $0.06 EPS

Bank of N.T. Butterfield & Son (NYSE:NTB) announced its quarterly earnings data on Tuesday. The bank reported $1.16 EPS for the quarter, beating the consensus estimate of $1.10 by $0.06, Briefing.com reports. The company had revenue of $142.70 million for the quarter, compared to the consensus estimate of $142.07 million. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. Bank of N.T. Butterfield & Son’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 EPS.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB stock traded up $0.05 during trading hours on Wednesday, reaching $37.93. 32,478 shares of the company traded hands, compared to its average volume of 197,913. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. Bank of N.T. Butterfield & Son has a 12-month low of $24.62 and a 12-month high of $40.55. The company has a market cap of $1.91 billion, a P/E ratio of 8.52 and a beta of 1.18. The firm has a 50-day moving average price of $37.24 and a 200 day moving average price of $35.61.

Analyst Upgrades and Downgrades

NTB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $44.00 to $41.00 in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their target price on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, The Goldman Sachs Group raised their price objective on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. 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 MarketBeat.com, Bank of N.T. Butterfield & Son has a consensus rating of “Moderate Buy” and a consensus price target of $39.60.

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 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.