The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Declares $0.44 Quarterly Dividend

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) announced a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Stockholders of record on Monday, February 24th will be given a dividend of 0.44 per share by the bank on Monday, March 10th. This represents a $1.76 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend is Monday, February 24th.

Bank of N.T. Butterfield & Son has a payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of N.T. Butterfield & Son to earn $3.90 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 45.1%.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB traded up $0.32 during trading hours on Tuesday, hitting $40.58. The stock had a trading volume of 148,628 shares, compared to its average volume of 181,690. The company’s fifty day moving average is $37.19 and its two-hundred day moving average is $37.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.66 and a quick ratio of 0.66. Bank of N.T. Butterfield & Son has a 52 week low of $29.06 and a 52 week high of $41.88. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 9.04 and a beta of 1.15.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Monday, February 10th. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a net margin of 25.93% and a return on equity of 21.14%. On average, analysts anticipate that Bank of N.T. Butterfield & Son will post 4.52 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company upped their price target on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of N.T. Butterfield & Son has a consensus rating of “Moderate Buy” and a consensus target price of $40.80.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.