PNC Financial Services Group Inc. Invests $190,000 in Bank of N.T. Butterfield & Son Limited (The) (NTB)

PNC Financial Services Group Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) during the first quarter, according to its most recent filing with the SEC. The institutional investor bought 5,960 shares of the bank’s stock, valued at approximately $190,000.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Bank of N.T. Butterfield & Son Limited (The) by 3.2% in the first quarter. Wellington Management Group LLP now owns 5,243,298 shares of the bank’s stock valued at $167,314,000 after buying an additional 160,828 shares during the period. State Street Corp bought a new position in Bank of N.T. Butterfield & Son Limited (The) during the fourth quarter valued at $5,069,000. Nationwide Fund Advisors boosted its position in Bank of N.T. Butterfield & Son Limited (The) by 349.8% in the first quarter. Nationwide Fund Advisors now owns 22,601 shares of the bank’s stock valued at $721,000 after buying an additional 17,576 shares during the period. Parametric Portfolio Associates LLC bought a new position in Bank of N.T. Butterfield & Son Limited (The) during the first quarter valued at $678,000. Finally, Prudential Financial Inc. bought a new position in Bank of N.T. Butterfield & Son Limited (The) during the first quarter valued at $1,748,000. 66.16% of the stock is owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Limited (NTB) traded down 0.33% on Wednesday, hitting $33.40. 112,756 shares of the stock traded hands. The stock has a 50-day moving average price of $34.33 and a 200 day moving average price of $33.33. Bank of N.T. Butterfield & Son Limited has a 1-year low of $23.75 and a 1-year high of $35.68. The company has a market cap of $1.82 billion and a price-to-earnings ratio of 21.79.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. The company had revenue of $110.16 million during the quarter, compared to analyst estimates of $109.32 million. Bank of N.T. Butterfield & Son Limited (The) had a net margin of 19.54% and a return on equity of 17.93%. On average, analysts anticipate that Bank of N.T. Butterfield & Son Limited will post $2.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Monday, August 14th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, August 10th. This represents a $1.28 dividend on an annualized basis and a yield of 3.83%. Bank of N.T. Butterfield & Son Limited (The)’s dividend payout ratio (DPR) is presently 84.21%.

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Separately, Zacks Investment Research upgraded shares of Bank of N.T. Butterfield & Son Limited (The) from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Tuesday, June 13th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Bank of N.T. Butterfield & Son Limited (The) presently has an average rating of “Buy” and an average price target of $32.25.

About Bank of N.T. Butterfield & Son Limited (The)

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

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

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