M&T Bank Co. (NYSE:MTB) Shares Purchased by Pathstone Holdings LLC

Pathstone Holdings LLC lifted its position in M&T Bank Co. (NYSE:MTB) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 28,625 shares of the financial services provider’s stock after acquiring an additional 185 shares during the period. Pathstone Holdings LLC’s holdings in M&T Bank were worth $5,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in M&T Bank in the third quarter worth $44,000. Principal Financial Group Inc. boosted its holdings in shares of M&T Bank by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after buying an additional 2,797 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of M&T Bank by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after buying an additional 18,566 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in M&T Bank by 60.0% during the second quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock worth $4,964,000 after acquiring an additional 12,304 shares during the period. Finally, National Pension Service lifted its holdings in M&T Bank by 5.2% in the third quarter. National Pension Service now owns 268,138 shares of the financial services provider’s stock worth $47,761,000 after acquiring an additional 13,302 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

MTB opened at $221.12 on Friday. The business has a fifty day simple moving average of $191.98 and a 200-day simple moving average of $169.46. The firm has a market cap of $36.69 billion, a PE ratio of 16.37, a P/E/G ratio of 3.01 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a fifty-two week low of $123.46 and a fifty-two week high of $221.52.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, equities analysts predict that M&T Bank Co. will post 14.56 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a $1.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.44%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Buying and Selling

In related news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. This represents a 15.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael J. Todaro sold 4,786 shares of M&T Bank stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total value of $1,024,682.60. Following the transaction, the executive vice president now directly owns 2,787 shares in the company, valued at approximately $596,696.70. This trade represents a 63.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,383 shares of company stock valued at $13,576,801. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and upped their target price for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Friday, October 4th. Royal Bank of Canada boosted their price objective on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group lifted their target price on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $199.65.

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.