PNC Financial Services Group Inc. cut its position in Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,324 shares of the bank’s stock after selling 9,797 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Bank of N.T. Butterfield & Son were worth $4,215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at about $116,000. First Hawaiian Bank acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at about $311,000. Iberiabank Corp acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at about $369,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at about $375,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Bank of N.T. Butterfield & Son by 48.2% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 8,220 shares of the bank’s stock valued at $376,000 after purchasing an additional 2,674 shares during the period. 74.61% of the stock is owned by hedge funds and other institutional investors.

NTB opened at $34.93 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.65 and a beta of 1.57. Bank of N.T. Butterfield & Son Ltd has a 52 week low of $34.71 and a 52 week high of $53.63.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Wednesday, October 24th. The bank reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.05). The company had revenue of $129.55 million for the quarter, compared to analysts’ expectations of $132.36 million. Bank of N.T. Butterfield & Son had a net margin of 35.65% and a return on equity of 22.33%. On average, equities research analysts expect that Bank of N.T. Butterfield & Son Ltd will post 3.53 earnings per share for the current fiscal year.

The business also recently disclosed a dividend, which was paid on Friday, November 16th. Shareholders of record on Monday, November 5th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, November 2nd. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 13.29%.

A number of analysts recently issued reports on NTB shares. Wells Fargo & Co reissued a “buy” rating and issued a $45.00 target price on shares of Bank of N.T. Butterfield & Son in a research report on Wednesday, October 24th. Zacks Investment Research raised Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Saturday, October 6th. Raymond James decreased their target price on Bank of N.T. Butterfield & Son from $56.00 to $49.00 and set an “outperform” rating for the company in a research report on Monday, November 5th. Finally, TheStreet raised Bank of N.T. Butterfield & Son from a “c” rating to a “b-” rating in a research report on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $50.50.

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Bank of N.T. Butterfield & Son Profile

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 non-interest bearing deposits, as well as certificates of deposits. The company's lending portfolio includes residential mortgage lending, automobile financing, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.

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

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