M&T Bank Co. (NYSE:MTB) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC raised its stake in M&T Bank Co. (NYSE:MTB) by 68.3% during the third quarter, Holdings Channel.com reports. The firm owned 488 shares of the financial services provider’s stock after purchasing an additional 198 shares during the quarter. Venturi Wealth Management LLC’s holdings in M&T Bank were worth $87,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MTB. Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank during the 3rd quarter worth $32,000. Hexagon Capital Partners LLC lifted its holdings in M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after buying an additional 68 shares during the last quarter. Oakworth Capital Inc. acquired a new position in shares of M&T Bank during the 2nd quarter worth about $35,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 158 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of M&T Bank during the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the sale, the insider now owns 40,502 shares in the company, valued at approximately $7,933,531.76. The trade was a 15.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,854 shares of company stock worth $13,637,588. 0.82% of the stock is owned by corporate insiders.

M&T Bank Stock Up 0.6 %

Shares of M&T Bank stock opened at $213.27 on Friday. M&T Bank Co. has a one year low of $123.37 and a one year high of $216.84. The company has a market cap of $35.39 billion, a P/E ratio of 15.79, a PEG ratio of 3.00 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a fifty day moving average of $185.26 and a two-hundred day moving average of $166.25.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. On average, analysts forecast that M&T Bank Co. will post 14.56 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.53%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup upped their price target on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a report on Friday, July 19th. Royal Bank of Canada increased their target price on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Evercore ISI boosted their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Friday, October 4th. Finally, Piper Sandler lifted their target price on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $198.76.

M&T Bank 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.