Bank of N.T. Butterfield & Son Ltd (NTB) to Issue Quarterly Dividend of $0.44 on January 1st

Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) announced a quarterly dividend on Monday, January 1st, NASDAQ reports. Shareholders of record on Monday, January 1st will be given a dividend of 0.44 per share by the bank on Monday, January 1st. This represents a $1.76 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date is Tuesday, August 4th.

Bank of N.T. Butterfield & Son has a payout ratio of 67.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bank of N.T. Butterfield & Son to earn $2.65 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 66.4%.

Shares of NTB stock opened at $26.03 on Friday. Bank of N.T. Butterfield & Son has a fifty-two week low of $13.76 and a fifty-two week high of $38.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 8.53 and a beta of 2.21. The stock’s 50-day simple moving average is $24.60 and its 200-day simple moving average is $25.08.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Thursday, July 23rd. The bank reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. Bank of N.T. Butterfield & Son had a net margin of 28.51% and a return on equity of 17.47%. The company had revenue of $120.77 million during the quarter, compared to analysts’ expectations of $121.55 million. As a group, equities analysts forecast that Bank of N.T. Butterfield & Son will post 2.73 earnings per share for the current year.

A number of equities research analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of Bank of N.T. Butterfield & Son from $21.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Wells Fargo & Co lowered Bank of N.T. Butterfield & Son from an “overweight” rating to an “equal weight” rating and set a $25.00 price objective on the stock. in a report on Tuesday, June 2nd. Piper Sandler raised their price objective on Bank of N.T. Butterfield & Son from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Raymond James upped their target price on Bank of N.T. Butterfield & Son from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. Finally, Zacks Investment Research upgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Bank of N.T. Butterfield & Son currently has an average rating of “Hold” and an average target price of $28.20.

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 deposit. 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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Dividend History for Bank of N.T. Butterfield & Son (NYSE:NTB)

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