Stock Analysis
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- NYSE:NTB
Bank of N.T. Butterfield & Son First Quarter 2024 Earnings: Beats Expectations
Bank of N.T. Butterfield & Son (NYSE:NTB) First Quarter 2024 Results
Key Financial Results
- Revenue: US$142.8m (down 2.8% from 1Q 2023).
- Net income: US$53.4m (down 14% from 1Q 2023).
- Profit margin: 37% (down from 42% in 1Q 2023). The decrease in margin was primarily driven by higher expenses.
- EPS: US$1.15 (down from US$1.25 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Bank of N.T. Butterfield & Son Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 16%.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 6.0% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 12% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 2 warning signs for Bank of N.T. Butterfield & Son (1 is significant!) that you should be aware of.
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Find out whether Bank of N.T. Butterfield & Son is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.
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About NYSE:NTB
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.
Undervalued with adequate balance sheet.