Yahoo Finance Bank of N.T. Butterfield & Son First Quarter 2024 Earnings: Beats Expectations
Bank of N.T. Butterfield & Son (NYSE:NTB) First Quarter 2024 Results
Key Financial Results
Revenue: US$142.8m (down 2.8% from 1Q 2023).
Net income: US$53.4m (down 14% from 1Q 2023).
Profit margin: 37% (down from 42% in 1Q 2023). The decrease in margin was primarily driven by higher expenses.
EPS: US$1.15 (down from US$1.25 in 1Q 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 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 16%.
Looking ahead, revenue is forecast to stay flat during the next 2 years compared to a 5.9% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 12% from a week ago.
Risk Analysis
You should learn about the 2 warning signs we've spotted with Bank of N.T. Butterfield & Son (including 1 which makes us a bit uncomfortable).
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