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

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) released its earnings results on Tuesday. The bank reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.06, Briefing.com reports. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The company had revenue of $142.70 million during the quarter, compared to analyst estimates of $142.07 million. During the same period in the prior year, the firm posted $1.16 EPS. The firm's quarterly revenue was up .7% compared to the same quarter last year.

Bank of N.T. Butterfield & Son Price Performance

Shares of NYSE NTB traded up $0.07 during midday trading on Wednesday, reaching $37.95. 122,828 shares of the stock traded hands, compared to its average volume of 198,506. The company's 50 day moving average is $37.30 and its 200 day moving average is $35.63. Bank of N.T. Butterfield & Son has a one year low of $24.62 and a one year high of $40.55. The stock has a market capitalization of $1.91 billion, a PE ratio of 8.53 and a beta of 1.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Wall Street Analyst Weigh In

NTB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lowered Bank of N.T. Butterfield & Son from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $44.00 to $41.00 in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group boosted their price target on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, July 11th. One equities research 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, Bank of N.T. Butterfield & Son has a consensus rating of "Moderate Buy" and a consensus target price 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.