BANK OF N.T. BUTTERFIELD & SON LTD (NTB) Tops Q1 EPS by 6c

BANK OF N.T. BUTTERFIELD & SON LTD (NYSE: NTB) reported Q1 EPS of $0.83, $0.06 better than the analyst estimate of $0.77.

Michael Collins, Butterfield's Chairman and Chief Executive Officer, commented, "The first quarter of 2021 was a positive start to the year, with solid non-interest income, favorable expense trends, continued focus on capital management, and a constructive interest rate outlook. We continue to target top quartile risk adjusted returns, while maintaining a strong return and credit risk profile.

"As our core markets begin to recover, we remain confident that our strong risk discipline and underwriting expertise has reduced the residual risk of credit losses. We continue to actively communicate with our clients, responding quickly to instances of payment difficulties and working with clients to find a way forward.

"We are responsible stewards of capital, and balance regulatory requirements with growth opportunities and shareholder returns. Our capital management philosophy continues to emphasize a sustainable quarterly cash dividend, organic growth, potential inorganic growth, as well as share repurchases. We target a through-cycle dividend payout ratio of 50%, with flexibility around share buy-backs, depending on market conditions and potential M&A opportunities."

For earnings history and earnings-related data on BANK OF N.T. BUTTERFIELD & SON LTD (NTB) click here.

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