NTB · Bank of N.T. Butterfield & Son Ltd
The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. The company offers retail and corporate checking, savings, and term deposits. It also provides lending products and services, including residential mortgage lending, automobile lending, credit cards, consumer financing, overdraft facilities to retail customers, commercial real estate lending, and commercial and industrial loans. In addition, the company offers cash and liquidity management, foreign exchange, custody administration, and settlement services. Further, it provides personal and business deposit services, residential and commercial mortgages, small and medium-sized enterprise and corporate loans, credit and debit cards, merchant acquiring, and mobile and internet banking services; and treasury services, wealth management, and fiduciary services. Additionally, the company offers discretionary investment management, managed portfolio services, money market, and mutual fund offerings, as well as advisory and self-directed brokerage options. It operates through offices in the Cayman Islands, Guernsey, Jersey, the United Kingdom, The Bahamas, Hong Kong, Switzerland, Singapore, Mauritius, and Canada, as well as Bermuda. The Bank of N.T. Butterfield & Son Limited was founded in 1784 and is headquartered in Hamilton, Bermuda.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $61.53 |
| SO | 39.9M |
| Options | 0.0M |
| Warrants | 0.4M |
| FD SO | 40.4M |
| MC | $2.48B |
| Cash | $1.71B |
| Total debt | — |
| EV | $775.5M |
| TTM Multiples | |
|---|---|
| EV / Revenue | — |
| EV / EBITDA | — |
| MC / Net Income | — |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 75.0% |
| Insiders | 1.2% |
| # Institutions | 318 |
| Analysts | 3 |
| Consensus | Buy |
| Avg target | $61.33 |
| Short % float | 1.6% |
| Days to cover | 2.37 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2025-12-31. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-07-13 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-06-29; the float denominator can be unreliable on tiny floats.
Financial statements
No quarterly data available.
| 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|
| Total Revenue | 606.79 | 579.93 | 578.60 | 549.30 |
| Revenue YoY % | 4.6% | 0.2% | 5.3% | — |
| Gross Profit | 367.98 | 358.72 | 366.96 | 343.58 |
| Gross Profit YoY % | 2.6% | (2.2%) | 6.8% | — |
| Gross Margin % | 60.6% | 61.9% | 63.4% | 62.5% |
| SG&A | 368.83 | 359.09 | 352.34 | 331.60 |
| Interest Expense | 364.08 | 351.20 | 178.67 | 54.80 |
| Pretax Income | 237.97 | 220.85 | 226.26 | 217.70 |
| Tax Provision | 6.02 | 4.53 | 0.77 | 3.68 |
| Net Income | 231.94 | 216.32 | 225.49 | 214.02 |
| Net Margin % | 38.2% | 37.3% | 39.0% | 39.0% |
| Diluted EPS | $5.47 | $4.71 | $4.58 | $4.29 |
| Basic EPS | $5.61 | $4.80 | $4.62 | $4.32 |
No quarterly data available.
| 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|
| Cash & Equivalents | 1,708.94 | 1,998.11 | 1,646.65 | 2,100.79 |
| Net PPE | 158.50 | 153.78 | 154.36 | 146.14 |
| Operating Lease ROU | 38.08 | 35.35 | 33.45 | 33.64 |
| Goodwill | 25.39 | 23.62 | 24.11 | 22.89 |
| Other Assets | 12,163.99 | 12,020.54 | 11,515.46 | 12,002.60 |
| Total Assets | 14,094.89 | 14,231.40 | 13,374.02 | 14,306.06 |
| Long-term Debt | 0.00 | 98.72 | 98.49 | 172.29 |
| Other Liabilities | 12,953.04 | 13,111.86 | 12,271.93 | 13,268.96 |
| Total Liabilities | 12,953.04 | 13,210.58 | 12,370.42 | 13,441.25 |
| Retained Earnings | 494.38 | 422.46 | 342.52 | 229.73 |
| Total Equity | 1,141.85 | 1,020.81 | 1,003.60 | 864.82 |
No quarterly data available.
| 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|
| Net Income | 231.94 | 216.32 | 225.49 | 214.02 |
| D&A | 21.34 | 21.35 | 19.77 | 18.48 |
| Stock-Based Comp | 22.25 | 21.00 | 20.81 | 17.08 |
| Δ Working Cap & Other | 4.03 | 6.76 | 34.22 | (30.30) |
| Operating Cash Flow | 279.56 | 265.43 | 300.29 | 219.27 |
| Other Investing | 102.36 | (581.02) | 681.80 | 292.02 |
| Investing Cash Flow | 102.36 | (581.02) | 681.80 | 292.02 |
| Debt Repayment | (100.00) | 0.00 | (75.00) | 0.00 |
| Stock Buyback | (146.69) | (155.31) | (88.59) | (3.90) |
| Dividends Paid | (77.72) | (79.58) | (86.19) | (87.34) |
| Other Financing | (421.23) | 970.45 | (1,198.15) | (415.57) |
| Financing Cash Flow | (745.64) | 735.56 | (1,447.92) | (506.81) |
| Effect of FX on Cash | 51.86 | (3.69) | 21.55 | (91.44) |
No quarterly data available.
| 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|
| Current Ratio | — | — | — | — |
| Quick Ratio | — | — | — | — |
| Debt / Equity | 11.34 | 12.94 | 12.33 | 15.54 |
| EBITDA Margin % | — | — | — | — |
| Working Capital | — | — | — | — |
| Net Debt | (1,708.94) | (1,899.39) | (1,548.16) | (1,928.50) |
| ROE % | 20.3% | 21.2% | 22.5% | 24.7% |
| ROA % | 1.6% | 1.5% | 1.7% | 1.5% |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-06-02 | Lynch Mark T | Director | 2026-05-29 | P | 10,000 | $56.49 | $564,940 |
| 2026-05-29 | Hidalgo Tara | Officer (Chief Risk Officer) | 2026-05-27 | A | 51 | — | $0 |
| 2026-05-29 | Hidalgo Tara | Officer (Chief Risk Officer) | 2026-05-27 | A | 379 | — | $0 |
| 2026-05-29 | Lee Michael Sean | Officer (Head of Human Resources) | 2026-05-27 | A | 49 | — | $0 |
| 2026-05-29 | Lee Michael Sean | Officer (Head of Human Resources) | 2026-05-27 | A | 47 | — | $0 |
| 2026-05-29 | Schrum Michael | Officer (Chief Financial Officer) | 2026-05-27 | A | 2,155 | — | $0 |
| 2026-05-29 | Schrum Michael | Officer (Chief Financial Officer) | 2026-05-27 | A | 1,378 | — | $0 |
| 2026-05-29 | Pearce Jane | Officer (Managing Director, Trust) | 2026-05-27 | A | 50 | — | $0 |
| 2026-05-29 | Pearce Jane | Officer (Managing Director, Trust) | 2026-05-27 | A | 342 | — | $0 |
| 2026-05-29 | McWatt Michael | Officer (Managing Director, Cayman) | 2026-05-27 | A | 63 | — | $0 |
| 2026-05-29 | McWatt Michael | Officer (Managing Director, Cayman) | 2026-05-27 | A | 511 | — | $0 |
| 2026-05-29 | Burns Andrew Ronald | Officer (Chief Risk Officer, Cayman) | 2026-05-27 | A | 52 | — | $0 |
| 2026-05-29 | Burns Andrew Ronald | Officer (Chief Risk Officer, Cayman) | 2026-05-27 | A | 412 | — | $0 |
| 2026-05-29 | Feldman Jody Terence | Officer (Managing Director, Bermuda) | 2026-05-27 | A | 47 | — | $0 |
| 2026-05-29 | Feldman Jody Terence | Officer (Managing Director, Bermuda) | 2026-05-27 | A | 305 | — | $0 |
| 2026-05-29 | CUMMINGS STEPHEN E | Director | 2026-05-27 | A | 49 | — | $0 |
| 2026-05-29 | Dallas Kevin | Officer (Head of Marketing) | 2026-05-27 | A | 44 | — | $0 |
| 2026-05-29 | Dallas Kevin | Officer (Head of Marketing) | 2026-05-27 | A | 332 | — | $0 |
| 2026-05-29 | Neff Michael Walter | Officer (Chief Operating Officer) | 2026-05-27 | A | 51 | — | $0 |
| 2026-05-29 | Neff Michael Walter | Officer (Chief Operating Officer) | 2026-05-27 | A | 405 | — | $0 |
| 2026-05-29 | Collins Michael W | Officer (Chief Executive Officer) | 2026-05-27 | A | 1,520 | — | $0 |
| 2026-05-29 | Collins Michael W | Officer (Chief Executive Officer) | 2026-05-27 | A | 2,424 | — | $0 |
| 2026-05-29 | Collins Michael W | Officer (Chief Executive Officer) | 2026-05-27 | A | 2,571 | — | $0 |
| 2026-05-29 | Saunders Richard | Officer (Managing Director, CIUK) | 2026-05-27 | A | 52 | — | $0 |
| 2026-05-29 | Saunders Richard | Officer (Managing Director, CIUK) | 2026-05-27 | A | 330 | — | $0 |