Citizens Financial Group Inc. RI Raises Stock Position in M&T Bank Co. (NYSE:MTB)

Citizens Financial Group Inc. RI increased its stake in M&T Bank Co. (NYSE:MTB) by 6.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,474 shares of the financial services provider’s stock after purchasing an additional 92 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in M&T Bank were worth $223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. General Partner Inc. purchased a new position in shares of M&T Bank during the 1st quarter worth $27,000. Fidelis Capital Partners LLC purchased a new position in shares of M&T Bank during the 1st quarter valued at about $30,000. Oakworth Capital Inc. bought a new position in shares of M&T Bank during the 2nd quarter valued at approximately $35,000. Principal Securities Inc. purchased a new stake in M&T Bank in the 4th quarter worth approximately $34,000. Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in M&T Bank by 677.4% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 412 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MTB. Jefferies Financial Group increased their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods lifted their target price on 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. Morgan Stanley upped their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada increased their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $175.85.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock valued at $5,115,349 over the last three months. 0.82% of the stock is owned by company insiders.

M&T Bank Trading Up 3.3 %

Shares of MTB opened at $179.86 on Friday. The company’s fifty day moving average is $166.98 and its 200 day moving average is $153.16. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $180.19. The stock has a market capitalization of $30.01 billion, a PE ratio of 12.16, a P/E/G ratio of 3.32 and a beta of 0.76. 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 results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the business posted $5.12 earnings per share. Sell-side analysts expect that M&T Bank Co. will post 14.24 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.00%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s payout ratio is 36.51%.

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.