Overview
Bermuda-based bank's Q4 revenue rose, beating analyst expectations
Adjusted EPS for Q4 beat analyst expectations
Company announced new share repurchase authorization for up to 3 mln shares
Outlook
Company authorized repurchase of up to 3.0 mln shares through December 2026
Butterfield focuses on growth through private trust and bank acquisitions
Result Drivers
NON-INTEREST INCOME - Increase driven by higher banking fees, trust income, and asset management fees
NET INTEREST INCOME - Benefited from lower deposit costs and higher yielding investment securities
CREDIT LOSSES - Lower provision for credit losses contributed to net income increase
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | $159.10 mln | $153.49 mln (3 Analysts) |
Q4 Adjusted EPS | Beat | $1.54 | $1.47 (3 Analysts) |
Q4 Adjusted Net Income | $63.80 mln | ||
Q4 Net Income | $63.80 mln | ||
Q4 Net Interest Income | $92.60 mln | ||
Q4 Dividend | $0.50 | ||
Q4 Pretax Profit | $66 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "hold"
Wall Street's median 12-month price target for Bank of NT Butterfield & Son Ltd is $50.00, about 5.8% below its February 6 closing price of $53.08
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 8 three months ago
Press Release: ID:nBw2Wp5fYa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)