Stock Analysis
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Bank of N.T. Butterfield & Son Second Quarter 2024 Earnings: Beats Expectations
Bank of N.T. Butterfield & Son (NYSE:NTB) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$142.7m (down 1.7% from 2Q 2023).
- Net income: US$50.6m (down 17% from 2Q 2023).
- Profit margin: 36% (down from 42% in 2Q 2023). The decrease in margin was primarily driven by higher expenses.
- EPS: US$1.11 (down from US$1.23 in 2Q 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 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 4.1%.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 6.3% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 1.4% from a week ago.
Risk Analysis
Before you take the next step you should know about the 2 warning signs for Bank of N.T. Butterfield & Son (1 is a bit unpleasant!) that we have uncovered.
Valuation is complex, but we're here to simplify it.
Discover if Bank of N.T. Butterfield & Son might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Valuation is complex, but we're here to simplify it.
Discover if Bank of N.T. Butterfield & Son might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
Access Free AnalysisHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
About NYSE:NTB
Bank of N.T. Butterfield & Son
Provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses.