Butterfield Bank (NTB) Q2 Earnings: What To Expect

Offshore banking group Butterfield Bank (NYSE:NTB) will be announcing earnings results this Monday after the bell. Here’s what you need to know.

Butterfield Bank beat analysts’ revenue expectations by 4.4% last quarter, reporting revenues of $147.8 million, up 3.7% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ net interest income estimates and a solid beat of analysts’ EPS estimates.

Is Butterfield Bank a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Butterfield Bank’s revenue to grow 3.1% year on year to $147.6 million, a reversal from the 2.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.22 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Butterfield Bank has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.6% on average.

Looking at Butterfield Bank’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Atlantic Union Bankshares delivered year-on-year revenue growth of 86.2%, beating analysts’ expectations by 12.5%, and Seacoast Banking reported revenues up 19.6%, topping estimates by 5%. Atlantic Union Bankshares traded down 1.9% following the results while Seacoast Banking’s stock price was unchanged.

Read our full analysis of Atlantic Union Bankshares’s results here and Seacoast Banking’s results here.

There has been positive sentiment among investors in the regional banks segment, with share prices up 4% on average over the last month. Butterfield Bank’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $51.75 (compared to the current share price of $44.37).

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