Kingsview Wealth Management LLC Acquires 110 Shares of M&T Bank Co. (NYSE:MTB)

Kingsview Wealth Management LLC increased its holdings in M&T Bank Co. (NYSE:MTB) by 6.6% in the 3rd quarter, Holdings Channel reports. The fund owned 1,785 shares of the financial services provider’s stock after buying an additional 110 shares during the quarter. Kingsview Wealth Management LLC’s holdings in M&T Bank were worth $318,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cerity Partners LLC increased its stake in shares of M&T Bank by 116.3% during the third quarter. Cerity Partners LLC now owns 31,591 shares of the financial services provider’s stock valued at $5,627,000 after purchasing an additional 16,983 shares in the last quarter. Great Valley Advisor Group Inc. increased its position in M&T Bank by 7.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,465 shares of the financial services provider’s stock valued at $618,000 after buying an additional 252 shares in the last quarter. Raymond James Trust N.A. raised its stake in M&T Bank by 27.2% during the third quarter. Raymond James Trust N.A. now owns 3,065 shares of the financial services provider’s stock valued at $546,000 after buying an additional 656 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in M&T Bank by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after acquiring an additional 190,837 shares in the last quarter. Finally, John G Ullman & Associates Inc. purchased a new stake in shares of M&T Bank in the third quarter worth $553,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the sale, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The trade was a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,504 shares of company stock valued at $18,394,012. 0.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on MTB. Bank of America lifted their price target on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $183.00 to $215.00 in a report on Tuesday, September 3rd. Barclays increased their price target on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Evercore ISI upped their price objective on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler increased their target price on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $206.41.

M&T Bank Trading Down 0.4 %

Shares of NYSE:MTB opened at $219.99 on Friday. M&T Bank Co. has a 52-week low of $125.61 and a 52-week high of $225.70. The stock has a market capitalization of $36.50 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 3.11 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 stock’s 50-day simple moving average is $196.45 and its two-hundred day simple moving average is $171.86.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. Analysts expect that M&T Bank Co. will post 14.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a $1.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

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.