Bank of Butterfield Ltd (NTB) said after close Tuesday that it earned $1.16 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $141.7 million, missing estimates by $2.2 million.
In the same quarter a year ago, the company earned $1.16 per share on revenue of $140.4 million.
The stock is down 1.19% to $25.74 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 45. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
Bank of N.T Butterfield & Son Ltd is a full-service bank and wealth manager. It operates the business through three geographic segments, Bermuda, the Cayman Islands, the Channel Islands and the UK. The company offers banking services, comprised of retail and corporate banking, and wealth management, which consists of trust, private banking, and asset management. It generates a majority of its revenue from Bermuda, and the Cayman Islands segments.
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Bank of Butterfield Ltd Down 1.19% To $25.74 After Earnings Beat
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