Public Employees Retirement System of Ohio Acquires New Shares in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Public Employees Retirement System of Ohio acquired a new position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 75,079 shares of the bank's stock, valued at approximately $2,769,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of Bank of N.T. Butterfield & Son by 82.2% during the 2nd quarter. SG Americas Securities LLC now owns 11,763 shares of the bank's stock worth $413,000 after buying an additional 5,308 shares in the last quarter. Blue Trust Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son in the 2nd quarter worth approximately $138,000. Summit Global Investments raised its holdings in shares of Bank of N.T. Butterfield & Son by 25.3% in the 2nd quarter. Summit Global Investments now owns 16,548 shares of the bank's stock worth $581,000 after purchasing an additional 3,342 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bank of N.T. Butterfield & Son by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 173,041 shares of the bank's stock worth $5,883,000 after purchasing an additional 4,881 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Bank of N.T. Butterfield & Son by 14.1% in the 2nd quarter. Principal Financial Group Inc. now owns 28,946 shares of the bank's stock worth $1,017,000 after purchasing an additional 3,574 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods downgraded shares of Bank of N.T. Butterfield & Son from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $44.00 to $41.00 in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Bank of N.T. Butterfield & Son has a consensus rating of "Moderate Buy" and a consensus target price of $39.60.

Bank of N.T. Butterfield & Son Stock Down 1.1 %

Shares of Bank of N.T. Butterfield & Son stock traded down $0.42 during trading on Tuesday, hitting $37.60. The stock had a trading volume of 195,764 shares, compared to its average volume of 196,313. The stock has a 50 day simple moving average of $37.72 and a 200 day simple moving average of $36.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66. The Bank of N.T. Butterfield & Son Limited has a 1 year low of $28.73 and a 1 year high of $40.55.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.06. The business had revenue of $142.70 million for the quarter, compared to the consensus estimate of $142.07 million. Bank of N.T. Butterfield & Son had a net margin of 25.93% and a return on equity of 21.14%. The firm's quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. On average, analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.52 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.68%. The ex-dividend date was Tuesday, November 5th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is currently 39.20%.

About Bank of N.T. Butterfield & Son

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. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.