NTB
Full HouseThe Bank of N.T. Butterfield & Son Limited · Financial Services · Bermuda · $2.4B cap · $9.6M/day traded
$56.25 -0.5% · close 12 Nov · scored 13 Nov
Full House: Strong business, sensible price, and the market agrees.
After its 27 Oct results, analysts cut next year's EPS estimate 1.4%.
As of 13 Nov 2026, the MoatMap Score for The Bank of N.T. Butterfield & Son Limited (NTB) is 75/100, ranked against 25,000+ stocks in 38 markets (Quality 70, Value 51, Momentum 50, each scored against its sector).
Does the score work? Each tenth of the ranking, tracked monthly. See the record →
ABOUT THE BANK OF N.T. BUTTERFIELD & SON LIMITED
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The Bank of N.T. Butterfield & Son Limited provides specialized community banking, wealth management, and trust services in select offshore financial centers. As the leading independent bank in Bermuda and the Cayman Islands, it benefits from a dominant market share and a highly stable, low-cost deposit base. The institution is characterized by its high-fee wealth management operations and strong capital generation.
FINANCIAL SUMMARY (USD)
| Year | 2021 | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | 551.6M | 583.2M | 582.0M | 606.8M | 3.2% | 633.9M | 640.0M | 1.2B | 40.9% |
| EPS | — | 4.32 | 4.62 | 4.80 | 5.61 | 9.1% | 5.74 | 6.31 | 7.34 | 14.4% |
| Shares | — | 49.7M | 46.9M | 43.5M | 39.9M | -19.6% | 39.6M | — | — | — |
| Debt | 171.9M | 172.3M | 98.5M | 98.7M | — | -16.9% | 38.6M | — | — | — |
| Equity | — | 864.8M | 1.0B | 1.0B | 1.1B | 9.7% | — | — | — | — |
| Op CF | — | 219.3M | 300.3M | 265.4M | 279.6M | 8.4% | 247.0M | — | — | — |
| Inv CF | — | 292.0M | 681.8M | -581.0M | 102.4M | — | — | — | — | — |
| Fin CF | — | -506.8M | -1.4B | 735.6M | -745.6M | — | — | — | — | — |
Above its 200-day average and 12% below its 52-week high.
Calmer than 93% of stocks we rank over the past year (volatility 19% a year).
How this is worked out
The Price check reads only the chart, the price side of the Momentum score in words; it is not the MoatMap Score.
- Still falling: It set a new 52-week low in the last two weeks, after a deep fall.
- Finding a floor: It fell hard, but has set no new low for more than two weeks.
- Turning up: It has climbed off its low and is back above a rising 50-day average.
- In an uptrend (this stock): It is near its 52-week high and above its 200-day average.
- No clear trend: None of the above: no recent deep fall and no steady climb.
- No read yet: Not enough price history yet: it needs a year of trading.
In past US falls, waiting for Turning up cut the chance of another 20% drop from 42% to 33%. Returns were no better, and 33% of turns failed.
The exact rules
Still falling is a new 52-week low in the last two weeks, at least 25% below the high, with the low set after the high. Finding a floor is the same fall with no new low in the last two weeks. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average, with the 50-day average above the 200-day, and within 15% of the high. No clear trend is everything else. No read yet is under 252 trading days of history, or missing data. A new state shows once it has held for three trading days.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn (the Turning up rule above) cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
What it measures: how much the price moved day to day over the past year, scaled to a yearly figure (annualised volatility) and ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Financial Services, ranked by industry match, size, and score similarity. Cross-listings of NTB are excluded.
| Ticker | Company | Mkt Cap | Score |
|---|---|---|---|
| NTB | The Bank of N.T. Butterfield & Son Limited(you) | $2.4B | 75 |
| SPNT | SiriusPoint Ltd. | $3.0B | 79 |
| LRE.L | Lancashire Holdings Limited | $2.2B | 83 |
| PLGO | Pelagos Insurance Capital Limit | $2.1B | 90 |
| WTM | White Mountains Insurance Group, Ltd. | $5.3B | 74 |
| ESNT | Essent Group Ltd. | $6.0B | 79 |
| CRE.L | Conduit Holdings Limited | $849M | 79 |
| HG | Hamilton Insurance Group, Ltd. | $3.6B | 97 |
| AGO | Assured Guaranty Ltd. | $3.1B | 48 |
| AXS | AXIS Capital Holdings Limited | $7.5B | 64 |
Peer medians: ROE 16.2% · P/E 8.1x · Gross margin 36.1%
Company Deep Dive
A 10,000-word report: the business and its segments, what management promised on earnings calls and whether it delivered, the competition, and how things could turn out.