Bank of N.T. Butterfield & Son Limited (The) $NTB Stock Bought by Virtus Advisers LLC

Virtus Advisers LLC increased its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 58.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 24,711 shares of the bank’s stock after purchasing an additional 9,133 shares during the period. Virtus Advisers LLC’s holdings in Bank of N.T. Butterfield & Son were worth $1,430,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Diversified Trust Co grew its holdings in shares of Bank of N.T. Butterfield & Son by 5.7% during the 3rd quarter. Diversified Trust Co now owns 11,777 shares of the bank’s stock valued at $681,000 after purchasing an additional 633 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Bank of N.T. Butterfield & Son by 62.4% in the third quarter. Russell Investments Group Ltd. now owns 190,120 shares of the bank’s stock worth $11,000,000 after acquiring an additional 73,055 shares during the period. Ritholtz Wealth Management increased its position in Bank of N.T. Butterfield & Son by 0.8% during the 3rd quarter. Ritholtz Wealth Management now owns 47,098 shares of the bank’s stock valued at $2,725,000 after purchasing an additional 369 shares during the period. Allspring Global Investments Holdings LLC increased its position in Bank of N.T. Butterfield & Son by 4.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,893 shares of the bank’s stock valued at $927,000 after purchasing an additional 674 shares during the period. Finally, Ethic Inc. increased its position in Bank of N.T. Butterfield & Son by 85.6% during the 3rd quarter. Ethic Inc. now owns 83,307 shares of the bank’s stock valued at $4,820,000 after purchasing an additional 38,429 shares during the period. 62.73% of the stock is owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Trading Up 0.9%

Shares of NTB stock traded up $0.49 on Friday, hitting $56.74. 151,938 shares of the stock were exchanged, compared to its average volume of 195,090. The firm’s 50 day moving average is $58.27 and its two-hundred day moving average is $56.92. Bank of N.T. Butterfield & Son Limited has a one year low of $44.36 and a one year high of $64.17. The firm has a market capitalization of $2.38 billion, a PE ratio of 9.90 and a beta of 0.57.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Tuesday, October 27th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. Bank of N.T. Butterfield & Son had a return on equity of 22.45% and a net margin of 29.21%. The business had revenue of $162.24 million for the quarter, compared to analysts’ expectations of $160.90 million. During the same period in the previous year, the business posted $1.51 EPS. On average, sell-side analysts expect that Bank of N.T. Butterfield & Son Limited will post 6.30 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, November 10th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 34.90%.

Insider Activity

In other news, Director Michael McWatt sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $58.41, for a total value of $525,690.00. Following the sale, the director owned 13,544 shares of the company’s stock, valued at $791,105.04. The trade was a 39.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Collins sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $62.98, for a total transaction of $4,723,500.00. Following the sale, the chief executive officer owned 132,037 shares in the company, valued at $8,315,690.26. The trade was a 36.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 216,037 shares of company stock valued at $13,278,059 in the last quarter. Corporate insiders own 1.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NTB shares. Weiss Ratings restated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Tuesday, September 29th. Keefe, Bruyette & Woods boosted their target price on shares of Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Bank of N.T. Butterfield & Son from $61.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.50.

Bank of N.T. Butterfield & Son Profile

Bank of N.T. Butterfield & Son Limited is a Bermuda-based bank and wealth manager founded in 1858. It provides banking and financial services to individuals, businesses, and institutional clients. Its services include personal and corporate banking, private banking, trust and fiduciary services, investment management, and custody services. Banking products include deposit accounts, lending, and related financial services. Butterfield serves clients across several international markets, including Bermuda, the Cayman Islands, the Channel Islands, and the United Kingdom, with additional operations in other jurisdictions.