Butterfield climbs after Q4 profit beats expectations

Bank of NT Butterfield & Son

11/02/2025 18:13

** Shares of Bermuda-based lender Butterfield  NTB.N  jump
as much as 11.3%; last up 5.8% at $39.60
    ** NTB posts Q4 core net income of $1.34/shr, beating
analysts' expectations of $1.17/shr, according to data compiled
by LSEG
    ** Q4 net interest income rose to $88.6 million, beating
expectations of $82.8 million, thanks to higher treasury and
investment volumes
    ** Positive performance in last quarter can also be
attributed to the seasonal strength of both Cayman tourism and
consumer credit card spend, CEO Michael Collins says
    ** Raymond James says it was a solid quarter, where
fundamental trends were strong
    ** Brokerage adds that NTB defended net interest margin
better than expected in the midst of rate cuts
    ** NTB stock jumped 24.1% in 2024

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))