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) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Investors of record on Monday, February 24th will be paid a dividend of 0.44 per share by the bank on Monday, March 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Monday, February 24th.

Bank of N.T. Butterfield & Son has a dividend payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of N.T. Butterfield & Son to earn $4.85 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 36.3%.

Bank of N.T. Butterfield & Son Stock Up 0.8 %

Bank of N.T. Butterfield & Son stock opened at $40.58 on Wednesday. The stock has a market cap of $1.93 billion, a PE ratio of 8.60 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.07 and a quick ratio of 0.66. The stock’s fifty day moving average is $37.19 and its two-hundred day moving average is $37.18. Bank of N.T. Butterfield & Son has a 1-year low of $29.06 and a 1-year high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued 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 return on equity of 21.45% and a net margin of 25.93%. On average, sell-side analysts expect that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current fiscal year.

Analysts Set New Price Targets

NTB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective 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 boosted their price target on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.