Wall Street analysts forecast that Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) will post $136.99 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Bank of N.T. Butterfield & Son’s earnings. The lowest sales estimate is $133.90 million and the highest is $140.07 million. Bank of N.T. Butterfield & Son reported sales of $129.55 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.7%. The company is expected to report its next quarterly earnings report on Tuesday, October 22nd.

According to Zacks, analysts expect that Bank of N.T. Butterfield & Son will report full year sales of $539.27 million for the current year, with estimates ranging from $537.00 million to $541.54 million. For the next fiscal year, analysts forecast that the business will post sales of $565.41 million, with estimates ranging from $563.81 million to $567.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Bank of N.T. Butterfield & Son.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.03. Bank of N.T. Butterfield & Son had a net margin of 34.60% and a return on equity of 22.69%. The business had revenue of $129.40 million during the quarter, compared to the consensus estimate of $133.65 million. During the same quarter in the previous year, the firm earned $0.93 EPS. The company’s revenue was up .1% compared to the same quarter last year.

Several equities analysts have issued reports on the stock. Citigroup set a $48.00 price objective on shares of Bank of N.T. Butterfield & Son and gave the company a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Co lowered shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $44.00 to $38.00 in a research report on Monday, July 1st. Zacks Investment Research lowered shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “sell” rating in a report on Thursday, July 4th. Keefe, Bruyette & Woods lowered shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $51.00 to $41.00 in a report on Sunday, July 7th. Finally, ValuEngine downgraded shares of Bank of N.T. Butterfield & Son from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $44.20.

NTB stock traded down $0.83 on Friday, hitting $26.41. The company’s stock had a trading volume of 75,287 shares, compared to its average volume of 239,495. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.47 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 1.23 and a beta of 1.79. The firm’s 50 day simple moving average is $32.19. Bank of N.T. Butterfield & Son has a 1 year low of $26.83 and a 1 year high of $53.63.

The company also recently announced a dividend, which will be paid on Friday, August 16th. Investors of record on Monday, August 5th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, August 2nd.

A number of large investors have recently added to or reduced their stakes in NTB. Cornerstone Advisors Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son by 154.1% in the 2nd quarter. Cornerstone Advisors Inc. now owns 780 shares of the bank’s stock worth $26,000 after buying an additional 473 shares during the last quarter. Ropes Wealth Advisors LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son during the first quarter worth $36,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Bank of N.T. Butterfield & Son during the second quarter worth $85,000. Nisa Investment Advisors LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son during the first quarter worth $95,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Bank of N.T. Butterfield & Son by 35.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,529 shares of the bank’s stock worth $120,000 after acquiring an additional 918 shares in the last quarter. 71.86% of the stock is currently owned by hedge funds and other institutional investors.

About Bank of N.T. Butterfield & Son

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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