Public Employees Retirement System of Ohio Buys Shares of 75,079 The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Public Employees Retirement System of Ohio purchased a new position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 75,079 shares of the bank’s stock, valued at approximately $2,769,000.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Bank of N.T. Butterfield & Son by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,600,864 shares of the bank’s stock valued at $56,221,000 after purchasing an additional 51,875 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Bank of N.T. Butterfield & Son by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 1,172,819 shares of the bank’s stock worth $43,254,000 after buying an additional 7,207 shares during the period. Westwood Holdings Group Inc. bought a new position in shares of Bank of N.T. Butterfield & Son during the 2nd quarter valued at approximately $31,906,000. American Century Companies Inc. grew its stake in shares of Bank of N.T. Butterfield & Son by 31.7% during the 2nd quarter. American Century Companies Inc. now owns 876,472 shares of the bank’s stock valued at $30,782,000 after acquiring an additional 211,147 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Bank of N.T. Butterfield & Son by 20.3% in the 3rd quarter. Victory Capital Management Inc. now owns 459,210 shares of the bank’s stock worth $16,936,000 after acquiring an additional 77,334 shares in the last quarter. Institutional investors own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bank of N.T. Butterfield & Son Stock Down 0.3 %

Shares of NTB opened at $38.01 on Tuesday. The Bank of N.T. Butterfield & Son Limited has a 12-month low of $28.73 and a 12-month high of $40.55. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.91 billion, a PE ratio of 8.47 and a beta of 1.17. The business’s 50 day moving average is $37.70 and its 200 day moving average is $36.73.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. The firm had revenue of $142.70 million during the quarter, compared to analyst estimates 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%. Bank of N.T. Butterfield & Son’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.16 earnings per share. Research analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.63%. Bank of N.T. Butterfield & Son’s payout ratio is 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.