Bank of N.T Butterfield: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
Bank of N.T Butterfield (NYSE:NTB) reported Q4 earnings, beating estimates with an EPS of $1.15 against the expected $1.11 but saw a revenue decrease of $3.60 million from the previous year. Despite beating last quarter's EPS estimates, the share price dropped by 2.41% the following day.
February 12, 2024 | 9:35 pm
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Bank of N.T Butterfield reported higher than expected Q4 earnings but experienced a revenue decrease from the previous year. Last quarter's EPS beat resulted in a share price drop the following day.
While NTB's earnings beat might generally be seen as positive, the revenue decrease and historical context of a share price drop following last quarter's earnings beat suggest a mixed short-term impact. The positive earnings surprise could support the stock, but the revenue decline and past price reaction temper expectations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100