Bank of New York Mellon Corp grew its holdings in Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) by 21.8% during the second quarter, Holdings Channel reports. The fund owned 289,212 shares of the bank’s stock after purchasing an additional 51,752 shares during the period. Bank of New York Mellon Corp’s holdings in Bank of N.T. Butterfield & Son were worth $13,304,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in shares of Bank of N.T. Butterfield & Son by 32.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 91,121 shares of the bank’s stock valued at $4,167,000 after acquiring an additional 22,370 shares during the last quarter. Soros Fund Management LLC purchased a new position in shares of Bank of N.T. Butterfield & Son in the 2nd quarter valued at about $4,359,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Bank of N.T. Butterfield & Son by 51.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 44,094 shares of the bank’s stock valued at $2,016,000 after acquiring an additional 14,981 shares during the last quarter. Globeflex Capital L P increased its holdings in shares of Bank of N.T. Butterfield & Son by 99.9% in the 2nd quarter. Globeflex Capital L P now owns 20,469 shares of the bank’s stock valued at $936,000 after acquiring an additional 10,228 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Bank of N.T. Butterfield & Son by 241.7% in the 2nd quarter. American Century Companies Inc. now owns 349,104 shares of the bank’s stock valued at $15,961,000 after acquiring an additional 246,941 shares during the last quarter. Institutional investors and hedge funds own 74.61% of the company’s stock.

NTB has been the topic of a number of research reports. TheStreet upgraded Bank of N.T. Butterfield & Son from a “c” rating to a “b-” rating in a research note on Monday, September 17th. Zacks Investment Research upgraded Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Saturday, October 6th. Wells Fargo & Co restated a “buy” rating and set a $45.00 price target on shares of Bank of N.T. Butterfield & Son in a research note on Wednesday, October 24th. Finally, Raymond James restated a “buy” rating on shares of Bank of N.T. Butterfield & Son in a research note on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.50.

NYSE:NTB opened at $35.10 on Friday. The company has a market cap of $1.91 billion, a P/E ratio of 12.27, a PEG ratio of 1.65 and a beta of 1.57. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.16. Bank of N.T. Butterfield & Son Ltd has a 52-week low of $34.05 and a 52-week high of $53.63.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Wednesday, October 24th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The firm 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 return on equity of 22.33% and a net margin of 35.65%. On average, research analysts expect that Bank of N.T. Butterfield & Son Ltd will post 3.53 EPS for the current fiscal year.

The company also recently declared a dividend, which was paid on Friday, November 16th. Investors 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%.

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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 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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Want to see what other hedge funds are holding NTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of N.T. Butterfield & Son Ltd (NYSE:NTB).

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

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