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Bank of N.T. Butterfield & Son (NTB)
NYSE:NTB
Earnings Data
Report Date
Apr 29, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
1.11Last Year’s EPS
1.13Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 10, 2025
|% Change Since: 0.16%
|Next Earnings Date:Apr 29, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a strong financial performance with significant achievements in net income, tangible book value growth, and shareholder returns. However, challenges included a decrease in net interest margin and inflationary pressures. Overall, the highlights slightly outweigh the lowlights.Company Guidance
During the fourth-quarter and full-year 2024 earnings call for The Bank of N.T. Butterfield & Son Limited, the company provided guidance indicating strong financial performance. Net income for the year was reported at $216.3 million, with core net income slightly higher at $218.9 million, resulting in a core return on average tangible common equity of 24%. The net interest margin decreased to 2.64% from 2.80% in 2023, attributed to rising deposit costs. However, the margin stabilized quarterly as market rates and deposit costs decreased. Tangible book value per common share increased by 12.5%, ending the year at $21.70. The company declared cash dividends representing 37% of earnings and repurchased approximately 4.5 million shares valued at $155.3 million. The board approved a new share repurchase of up to 2.7 million common shares. For the fourth quarter, net income was $59.6 million, with core earnings per share of $1.34, and a core return on average tangible common equity of 25.2%. Net interest margin was stable at 2.61%, supported by lower deposit costs and higher investment yields. Non-interest income rose by 12.9% to $63.2 million, driven by seasonal increases in card services and higher foreign exchange volumes. Total core non-interest expenses saw a 2.2% increase, attributed to marketing expenditures and costs related to professional services. The company plans for continued expense management in 2025, with expected quarterly core expenses between $90 million and $92 million. The balance sheet remains strong with period-end deposit balances at $12.7 billion, and a low-risk density of 32% in the loan portfolio. The company anticipates transitioning to updated Basel IV capital guidance in 2025, potentially improving capital adequacy ratios.Strong Financial Performance in 2024
Net income for the year was $216.3 million, with core net income of $218.9 million, resulting in a core return on average tangible common equity of 24%.
Increase in Tangible Book Value
Tangible book value per common share grew by 12.5% to $21.70.
Shareholder Returns
Quarterly cash dividends represented 37% of earnings, with 4.5 million shares repurchased at a value of $155.3 million.
Tourism and Financial Services Growth
Increased visitor numbers in Bermuda and Cayman, along with growth in reinsurance and asset management sectors.
Non-Interest Income Increase
Non-interest income totaled $63.2 million for Q4, up 12.9% due to seasonal increases in card services and foreign exchange volumes.
Strong Asset Quality
99% of investment portfolio is AA-rated U.S. Government-guaranteed agency securities, with low non-accruals and charge-off ratio.
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NTB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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NTB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 10, 2025 | $37.01 | $40.25 | +8.75% |
| Oct 22, 2024 | $37.00 | $37.07 | +0.19% |
| Jul 22, 2024 | $38.13 | $37.86 | -0.71% |
| Apr 23, 2024 | $30.52 | $32.07 | +5.08% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Bank of N.T. Butterfield & Son (NTB) report earnings?
Bank of N.T. Butterfield & Son (NTB) is schdueled to report earning on Apr 29, 2025, TBA Not Confirmed.
What is Bank of N.T. Butterfield & Son (NTB) earnings time?
Bank of N.T. Butterfield & Son (NTB) earnings time is at Apr 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NTB EPS forecast?
NTB EPS forecast for the fiscal quarter 2025 (Q1) is 1.11.
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