Public Employees Retirement System of Ohio Buys Shares of 23,097 Bank of N.T. Butterfield & Son Limited (The) $NTB

Public Employees Retirement System of Ohio purchased a new stake in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 23,097 shares of the bank's stock, valued at approximately $1,374,000. Public Employees Retirement System of Ohio owned about 0.06% of Bank of N.T. Butterfield & Son as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NTB. UBS Group AG lifted its position in Bank of N.T. Butterfield & Son by 380.1% in the fourth quarter. UBS Group AG now owns 196,771 shares of the bank's stock valued at $9,803,000 after buying an additional 155,784 shares during the last quarter. LSV Asset Management boosted its stake in Bank of N.T. Butterfield & Son by 26.5% during the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank's stock worth $41,048,000 after buying an additional 172,666 shares during the period. Strategic Global Advisors LLC increased its position in shares of Bank of N.T. Butterfield & Son by 52.7% during the fourth quarter. Strategic Global Advisors LLC now owns 232,513 shares of the bank's stock valued at $11,584,000 after acquiring an additional 80,244 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Bank of N.T. Butterfield & Son by 182.9% during the first quarter. Renaissance Technologies LLC now owns 38,000 shares of the bank's stock valued at $1,994,000 after acquiring an additional 24,566 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 1st quarter valued at approximately $1,382,000. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an "equal weight" rating in a report on Monday, June 8th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Finally, Weiss Ratings reissued a "buy (a-)" rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son currently has an average rating of "Moderate Buy" and an average target price of $63.50.

Insider Activity

In other Bank of N.T. Butterfield & Son news, insider Tara Hidalgo sold 18,587 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $61.27, for a total value of $1,138,825.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael McWatt sold 9,000 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $58.41, for a total transaction of $525,690.00. Following the completion of the transaction, the director owned 13,544 shares of the company's stock, valued at approximately $791,105.04. This trade represents a 39.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 356,429 shares of company stock worth $21,711,506 over the last 90 days. Company insiders own 1.19% of the company's stock.

Bank of N.T. Butterfield & Son Price Performance

Shares of Bank of N.T. Butterfield & Son stock opened at $61.53 on Tuesday. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 10.81 and a beta of 0.51. The business has a 50-day moving average of $60.78 and a 200 day moving average of $56.94. Bank of N.T. Butterfield & Son Limited has a 12 month low of $40.59 and a 12 month high of $64.17.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. The company had revenue of $159.00 million for the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. Equities research analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.25 earnings per share for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Wednesday, August 12th. Bank of N.T. Butterfield & Son's dividend payout ratio is presently 35.15%.

About Bank of N.T. Butterfield & Son

Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a Bermuda-based provider of banking and wealth management services. Founded in 1858, the firm has grown from a local colonial bank into an international financial institution. With a focus on personalized client service, Butterfield offers a comprehensive suite of banking and fiduciary solutions to private individuals, families, and corporate clients.

The bank's core activities include private banking, retail and commercial lending, trust and corporate administration, and fund services.

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