HBW Advisory Services LLC Takes Position in M&T Bank Co. (NYSE:MTB)

HBW Advisory Services LLC acquired a new position in shares of M&T Bank Co. (NYSE:MTB) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,254 shares of the financial services provider’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ontario Teachers Pension Plan Board grew its stake in shares of M&T Bank by 43.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after acquiring an additional 3,739 shares in the last quarter. Leuthold Group LLC acquired a new stake in M&T Bank in the 1st quarter valued at $3,125,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in M&T Bank by 7.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after buying an additional 35,692 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 worth $48,267,000 after buying an additional 18,566 shares during the last quarter. Finally, Sierra Summit Advisors LLC bought a new position in shares of M&T Bank in the 4th quarter valued at about $6,438,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $178.74 on Friday. 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 Co. has a 52 week low of $108.53 and a 52 week high of $180.63. The firm has a market cap of $29.82 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75. The firm’s fifty day moving average is $168.84 and its 200-day moving average is $155.83.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.27 billion. During the same quarter last year, the firm earned $5.12 earnings per share. Sell-side analysts predict that M&T Bank Co. will post 14.23 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.02%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 36.51%.

Insider Activity

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the sale, the director now owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,699 shares of company stock worth $5,115,349. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MTB shares. Morgan Stanley upped their target price on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Wedbush raised their target price on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday. Royal Bank of Canada lifted their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, Citigroup raised their target price on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $185.75.

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.