NTBBank of N.T. Butterfield & Son Ltd
Next earnings Jul 27, 2026 · consensus $1.52 EPS, $159M rev
$60.42
▲ +0.45%$60.42▲ +36.23%
over 1Y
L $39.82H $60.69
Our buy Our hold Our sell Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today
+0.4%
1W
-0.3%
1M
+3.7%
3M
+8.8%
YTD
+23.8%
1Y
+36.2%
Buy
Conviction
Horizon
Medium (3–12mo)
Street · 7 analysts
Buy
Strong net margin (38.2%).
Revenue (FY2025) $607M · FY2025
This call stands until the filings change it — the engine re-rates on new 10-K/10-Q/8-K facts, never on price moves. Hit Watch above to follow NTB (Pro alerts fire the moment a rating flips), or catch every change in Saturday’s Flip Side. How to read a call
The read
Quality fundamentals and an attractive price line up (~82% below fair value) — the rarer case where both the business and the entry look good.
Bank of N.T. Butterfield & Son Ltd shows $607M in FY2025 revenue (+4.6% YoY), a 38.2% net margin, and 20.3% ROE.
Supporting the case: strong net margin (38.2%); high return on equity (20.3%); undemanding valuation (P/E 11.0).
Is NTB a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBull call spread (wide)~60d expiry
- Long call 60 @ ~2.62 est
- Short call 69 @ ~0.22 est
debit $240max +$660max −$240BE 62.40
High-conviction BUY: a wider spread keeps more of the upside while the short call still cuts cost and decay.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financialsannual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $500M | $549M | $579M | $580M | $607M |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $163M | $214M | $225M | $216M | $232M |
| Diluted EPS | $3.26 | $4.29 | $4.58 | $4.71 | $5.47 |
| Net margin | 32.6% | 39.0% | 39.0% | 37.3% | 38.2% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF9.1
PEG (trailing)1.53
Earnings yield9.7%
FCF yield11.0%
Quality & risk
ROIC (est.)—
Free cash flow$261M
Total debt$0.00
Net cash$1.71B
Piotroski F-Score7/7
Capital returns
Buyback yield6.2%
Dividend yield (est.)3.3%
Shareholder yield9.4%
Shares Δ YoY-8.2%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Recent filings
all on EDGAR ↗4Period ending 2026-06-122026-06-16open ↗144Filing2026-06-12open ↗4Period ending 2026-05-292026-06-02open ↗4Period ending 2026-05-272026-05-29open ↗4Period ending 2026-05-272026-05-29open ↗4Period ending 2026-05-272026-05-29open ↗4Period ending 2026-05-272026-05-29open ↗4Period ending 2026-05-272026-05-29open ↗4Period ending 2026-05-272026-05-29open ↗4Period ending 2026-05-272026-05-29open ↗4Period ending 2026-05-272026-05-29open ↗4Period ending 2026-05-272026-05-29open ↗
Frequently asked
- Is Bank of N.T. Butterfield & Son Ltd (NTB) a buy?
- NTB currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. Strong net margin (38.2%).
- What is NTB's fair value?
- A Modified-Graham model based on NTB's SEC fundamentals estimates a fair value of about $109.88. It is an estimate from reported earnings, not a price target.
- Is NTB overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, NTB currently appears undervalued relative to its SEC-grounded earnings power.
- What is Bank of N.T. Butterfield & Son Ltd's quality score?
- NTB scores 80.88148424162173/100 (grade A-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
New filings change verdicts
The daily Brief delivers our freshest calls, rating flips and the filings behind them — every morning, free.
Sources: SEC EDGAR (CIK 0001653242, latest 4 filed 2026-06-16) · EODHD · as of 7/12/2026, 11:17:17 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
Rule-based analysis, generated automatically from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 12, 2026, 7:17 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.