Bank of N.T. Butterfield & Son (NYSE:NTB) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Bank of N.T. Butterfield & Son (NYSE:NTB) issued its earnings results on Tuesday. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.09, FiscalAI reports. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. The firm had revenue of $162.24 million for the quarter, compared to the consensus estimate of $160.90 million.

Bank of N.T. Butterfield & Son Trading Up 0.4%

NYSE:NTB traded up $0.21 during mid-day trading on Tuesday, reaching $60.16. The company’s stock had a trading volume of 152,395 shares, compared to its average volume of 173,728. Bank of N.T. Butterfield & Son has a 12-month low of $41.71 and a 12-month high of $64.17. The firm’s fifty day moving average price is $59.21 and its two-hundred day moving average price is $56.46. The stock has a market cap of $2.52 billion, a P/E ratio of 10.57 and a beta of 0.55.

Insider Buying and Selling at Bank of N.T. Butterfield & Son

In other news, Director Richard Saunders sold 18,118 shares of Bank of N.T. Butterfield & Son stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $61.33, for a total value of $1,111,176.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tara Hidalgo sold 18,587 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $61.27, for a total transaction of $1,138,825.49. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 295,808 shares of company stock worth $18,154,010. 1.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NTB has been the subject of several analyst reports. Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Tuesday, September 29th. Keefe, Bruyette & Woods upped their price objective on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company upped their price objective on Bank of N.T. Butterfield & Son from $61.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.50.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a full-service bank headquartered in Hamilton, Bermuda. Founded in 1858, the company provides banking, wealth management and fiduciary services to individuals, businesses, institutions and international clients.

Butterfield’s banking activities include personal and commercial deposit accounts, residential and commercial lending, credit and debit cards, cash management, foreign exchange and other financial services.