M&T Bank Co. (NYSE:MTB) Shares Bought by Amalgamated Bank

Amalgamated Bank grew its holdings in shares of M&T Bank Co. (NYSE:MTB) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,286 shares of the financial services provider’s stock after purchasing an additional 1,564 shares during the period. Amalgamated Bank’s holdings in M&T Bank were worth $6,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Meeder Advisory Services Inc. increased its stake in M&T Bank by 3.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after buying an additional 70 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in M&T Bank by 1.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 70 shares in the last quarter. Umpqua Bank lifted its position in M&T Bank by 5.3% in the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 73 shares during the period. Fulton Bank N.A. boosted its stake in M&T Bank by 2.3% during the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 81 shares in the last quarter. Finally, Tritonpoint Wealth LLC increased its position in shares of M&T Bank by 2.3% during the 1st quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock valued at $510,000 after purchasing an additional 87 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on MTB shares. Morgan Stanley raised their target price on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Piper Sandler lifted their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and increased their target price for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Keefe, Bruyette & Woods increased their price objective on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $175.85.

Insider Activity at M&T Bank

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the transaction, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares in the company, valued at $502,184.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction 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 transaction, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,699 shares of company stock valued at $5,115,349. Insiders own 0.82% of the company’s stock.

M&T Bank Trading Up 3.3 %

Shares of NYSE MTB opened at $179.86 on Friday. The firm has a market capitalization of $30.01 billion, a PE ratio of 12.16, a PEG ratio of 3.32 and a beta of 0.76. M&T Bank Co. has a one year low of $108.53 and a one year high of $180.19. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $166.98 and a two-hundred day moving average price of $153.16.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS 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 business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the company posted $5.12 earnings per share. As a group, analysts predict that M&T Bank Co. will post 14.24 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

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

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.