Bank of N.T. Butterfield & Son Third Quarter 2024 Earnings: Beats Expectations

Bank of N.T. Butterfield & Son (NYSE:NTB) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$142.7m (flat on 3Q 2023).
• Net income: US$52.7m (up 8.1% from 3Q 2023).
• Profit margin: 37% (up from 34% in 3Q 2023).
• EPS: US$1.18 (up from US$1.00 in 3Q 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 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 6.6% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 2.9% 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 a bit concerning!) that you should be aware of.

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