M&T Bank Co. (NYSE:MTB) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC raised its stake in M&T Bank Co. (NYSE:MTB) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,740 shares of the financial services provider’s stock after acquiring an additional 289 shares during the period. Park Avenue Securities LLC’s holdings in M&T Bank were worth $1,022,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. General Partner Inc. bought a new position in M&T Bank during the 1st quarter worth $27,000. Fidelis Capital Partners LLC bought a new position in shares of M&T Bank during the first quarter worth about $30,000. Oakworth Capital Inc. acquired a new stake in shares of M&T Bank in the 2nd quarter worth about $35,000. Versant Capital Management Inc lifted its position in M&T Bank by 82.7% in the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 201 shares during the last quarter. Finally, Bank & Trust Co acquired a new position in M&T Bank during the 2nd quarter valued at about $70,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Down 0.2 %

M&T Bank stock opened at $177.52 on Wednesday. The firm’s 50 day moving average price is $168.96 and its two-hundred day moving average price is $156.14. The firm has a market cap of $29.62 billion, a PE ratio of 12.00, a P/E/G ratio of 3.55 and a beta of 0.75. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $180.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company earned $5.12 earnings per share. On average, research analysts predict that M&T Bank Co. will post 14.23 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is 36.51%.

Insider Transactions at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the sale, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the transaction, the insider now owns 16,429 shares of the company’s stock, valued at $2,834,002.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the sale, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock worth $5,115,349 in the last 90 days. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on MTB. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and raised their price target for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Royal Bank of Canada lifted their target price on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Friday, October 4th. Keefe, Bruyette & Woods lifted their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Finally, Citigroup upped their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $185.75.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.