The Bank of N.T. Butterfield & Son Limited (NTB) Fair Value & Analysis
Financial Services · US · Market cap $2.4B
The Bank of N.T. Butterfield & Son Limited
NTB · US
Fair value as of: Jul 15, 2026
From 6 valuation models · updated 25 days ago
Share price +4.4% over the past month.
A solid business, screening 22% undervalued on our models.
What matters now
- Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.
How to read this chart
60‑month range $19.62 – $62.44 · fair‑value band $57.08 – $95.14 · the $62.32 price screens below the $76.11 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.
Analysis
The Bank of N.T. Butterfield & Son Limited (NTB) currently trades at $62.32, while our model-based Fair Value estimate is $76.11, implying the stock looks roughly 22.1% undervalued today. The Quality Score stands at 68/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, The Bank of N.T. Butterfield & Son Limited generated revenue of $613M at a net margin of 39.3%. Revenue grew 4.3% year over year. It earns a return on equity of 22.0%. The balance sheet holds a net cash position of $1.6B. Fundamentals as of Jul 15, 2026
Our scenario range runs from $57.08 (bear case) to $95.14 (bull case); at $62.32, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 58% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 16% fair-value upside, at 22%, NTB screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 6 models by family
Widest divergence: Economic Profit ($48.09) versus Asset-Based ($19.32). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 82
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
The Bank of N.T. Butterfield & Son Limited reported revenue of $800M in FY2025 versus $522M in FY2021, a compound +11.3%/yr. Reported net income was $232M in FY2025, compounding +9.3%/yr from FY2021.
Watch NTB: get an alert when its fair value changes →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Is Higher Net Interest Income And A New Dividend Altering The Investment Case For Butterfield (NTB)?
- Bank of N.T. Butterfield & Son (NTB) Stock Still Looks Like A Bargain As Its 136% Run Continues
- Bank of N.T. Butterfield & Son (NTB) Stock Gets Fair Value Bump On CIBC Deal Views
- Here's Why Bank of NT Butterfield & Son (NTB) is a Great Momentum Stock to Buy
Peer Group
Banks - Diversified · 47 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Banks - Diversified median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Banks - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| JPMorgan Chase & Co JPM | $341.10 | $278.99 | -18% |
| Bank of America Corporation BAC | $59.67 | $55.89 | -6% |
| China Construction Bank Corporation 601939 | ¥10.16 | ¥17.20 | +69% |
| Industrial and Commercial Bank of China Limited 601398 | ¥7.50 | ¥13.44 | +79% |
| HSBC Holdings HSBC | $100.52 | $84.67 | -16% |
| Agricultural Bank of China Limited 601288 | ¥6.37 | ¥11.85 | +86% |
| Royal Bank of Canada RY | C$305.74 | C$190.48 | -38% |
| Bank of China Limited 601988 | ¥5.88 | ¥9.80 | +67% |
| Wells Fargo & Company WFCS | C$23.58 | C$27.40 | +16% |
| Banco Santander, S.A SAN | 51.02 PLN | 55.60 PLN | +9% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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