PNC Financial Services Group Inc. Grows Stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

PNC Financial Services Group Inc. boosted its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 780.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,036 shares of the bank’s stock after purchasing an additional 2,691 shares during the period. PNC Financial Services Group Inc.’s holdings in The Bank of N.T. Butterfield & Son were worth $107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTB. Envestnet Asset Management Inc. increased its stake in The Bank of N.T. Butterfield & Son by 67.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 80,868 shares of the bank’s stock valued at $3,091,000 after purchasing an additional 32,632 shares in the last quarter. Natixis Advisors L.P. increased its stake in The Bank of N.T. Butterfield & Son by 10.7% in the 1st quarter. Natixis Advisors L.P. now owns 52,370 shares of the bank’s stock valued at $2,000,000 after purchasing an additional 5,055 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in The Bank of N.T. Butterfield & Son by 95.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 22,979 shares of the bank’s stock valued at $878,000 after purchasing an additional 11,230 shares in the last quarter. BlackRock Inc. grew its holdings in The Bank of N.T. Butterfield & Son by 5.7% during the 1st quarter. BlackRock Inc. now owns 2,692,320 shares of the bank’s stock valued at $102,900,000 after buying an additional 144,167 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in The Bank of N.T. Butterfield & Son by 14.4% during the 1st quarter. Royce & Associates LP now owns 820,065 shares of the bank’s stock valued at $31,343,000 after buying an additional 103,271 shares during the last quarter. 62.98% of the stock is owned by hedge funds and other institutional investors.

NTB stock opened at $31.49 on Tuesday. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $21.50 and a 52-week high of $41.36. The stock’s fifty day simple moving average is $33.37 and its 200-day simple moving average is $36.26. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 10.22 and a beta of 1.95.

The Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Sunday, July 25th. The bank reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.02). The Bank of N.T. Butterfield & Son had a return on equity of 16.63% and a net margin of 30.00%. The business had revenue of $123.54 million for the quarter, compared to analyst estimates of $122.70 million. As a group, analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 3.29 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 24th. Stockholders of record on Tuesday, August 10th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 5.59%. The ex-dividend date was Monday, August 9th. The Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 57.89%.

NTB has been the topic of a number of analyst reports. Raymond James lowered their target price on The Bank of N.T. Butterfield & Son from $41.00 to $38.00 and set an “outperform” rating on the stock in a report on Thursday, July 29th. Zacks Investment Research cut The Bank of N.T. Butterfield & Son from a “hold” rating to a “sell” rating in a report on Friday, July 30th.

The Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Guernsey, The Bahamas, Switzerland, and the United Kingdom. The Bermuda and the Cayman Islands segment offers a range of retail and corporate banking services to individuals, local businesses, captive insurers, reinsurance companies, trust companies, and hedge funds.

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Institutional Ownership by Quarter for The Bank of N.T. Butterfield & Son (NYSE:NTB)

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