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 paid a dividend of 0.44 per share by the bank on Monday, January 1st. This represents a $1.76 annualized dividend and a yield of 6.76%. The ex-dividend date of this dividend 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 opened at $26.03 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.72 and a quick ratio of 0.72. Bank of N.T. Butterfield & Son has a one year low of $13.76 and a one year high of $38.05. The company has a 50-day simple moving average of $24.60 and a two-hundred day simple moving average of $25.08. The firm has a market capitalization of $1.40 billion, a PE ratio of 8.53 and a beta of 2.21.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $120.77 million during the quarter, compared to analyst estimates of $121.55 million. Analysts expect that Bank of N.T. Butterfield & Son will post 2.73 EPS for the current fiscal year.

A number of equities analysts have weighed in on the stock. Raymond James raised their target price on shares of Bank of N.T. Butterfield & Son from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, July 28th. Piper Sandler raised their target price on shares of Bank of N.T. Butterfield & Son from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Wells Fargo & Co downgraded shares of Bank of N.T. Butterfield & Son from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a research note on Tuesday, June 2nd. Citigroup raised their target price on shares of Bank of N.T. Butterfield & Son from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Finally, Zacks Investment Research raised shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Bank of N.T. Butterfield & Son currently has a consensus rating of “Hold” and a consensus price target of $28.20.

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

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