COMPARE · Data as of August 27, 2026
NTB vs SAN
Verdict: Side-by-side breakdown using the Bull Rankings model. NTB scored 80.0, SAN scored 66.0 — NTB leads.
Compare another set
NTB
The Bank of N.T. Butterfield & Son Limited
73.6Fin
$59.13 · $2.3B
fundamentals as of
Strength gap
11.7
NTB leads
SAN
Banco Santander, S.A.
61.9Fin
$14.55 · $211.5B
At a glance · who leads each dimension, on the model's own rules
- CheapestNTB10.4x
- Fastest growthNTB+4.3%
Side by side · every name on one set of axes
Growth against the P/E multiple. Up and to the right is cheaper and faster — the quality-growth idea in one picture. Points beyond the axis are pinned to the edge and marked off-scale rather than allowed to compress everything else.
Fundamentals, head-to-head
NTB
SAN
+4.3%C+
Rev
-0.5%D+
10.4xA-
P/E
14.1xB
21.1%A-
ROE
13.1%B
2.02C+
P/B
1.63B
3.4%B
Yield
1.9%C+
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
The companies
NTBThe Bank of N.T. Butterfield & Son Limited
Why now
Banks - Diversified · market cap $2.3b. 8% off the 52-week high of $64.17. PEG 0.71 — paying under fair value for the growth rate. 3 sell-side analysts publish a mean 1-yr target of $64.00 (implying +8% upside).
Moat
Net margin 37% is exceptional — pricing-power territory rare outside premium software, branded staples, and specialty pharma. ROE 21% sits above Buffett's preferred 15% threshold — the equity base is compounding at a rate the market struggles to discount accurately. Financial moat — scale of deposit base / underwriting franchise plus regulatory capital advantages. The largest players compound book value through cycles that erase smaller competitors.
Risk
Regulatory capital risk — stricter capital requirements (CCAR, Basel) can force a dividend cut or a capital raise; the largest banks are most exposed because they're held to the tightest standards.
SANBanco Santander, S.A.
Why now
Banks - Diversified · market cap $211.5b. Trading near 52-week high of $15.00 — momentum setup, limited technical margin of safety. 3 sell-side analysts rate this a Hold with a mean 1-yr target of $13.56 (implying -7% upside).
Moat
Net margin 33% is exceptional — pricing-power territory rare outside premium software, branded staples, and specialty pharma. ROE 13% meets the long-run market sustainable threshold — solid but not differentiated; the durability comes from elsewhere. $211.5b market cap places it among the largest companies in the sector — distribution, R&D, and customer-acquisition costs amortize across a base peers can't replicate.
Risk
Trading within 3% of the 52-week high — limited technical margin of safety; a momentum reversal would test conviction. Balance-sheet financial — book value, net interest margin, and credit loss provisions are the lever points; a rates regime change or a deterioration in the loan book moves the stock more than EPS does.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
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