Dynamic Advisor Solutions LLC Buys 109 Shares of M&T Bank Co. (NYSE:MTB)

Dynamic Advisor Solutions LLC increased its position in M&T Bank Co. (NYSE:MTB) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,095 shares of the financial services provider’s stock after purchasing an additional 109 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in M&T Bank were worth $1,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board grew its stake in M&T Bank by 43.1% in the first quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock valued at $1,807,000 after acquiring an additional 3,739 shares during the period. Leuthold Group LLC bought a new position in shares of M&T Bank in the 1st quarter worth $3,125,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in M&T Bank by 7.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock valued at $72,357,000 after purchasing an additional 35,692 shares during the period. Price T Rowe Associates Inc. MD increased its stake in 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 purchasing an additional 18,566 shares in the last quarter. Finally, Sierra Summit Advisors LLC acquired a new position in M&T Bank during the fourth quarter worth $6,438,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Trading Up 0.9 %

Shares of MTB stock opened at $179.15 on Thursday. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $180.63. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $169.04 and a 200-day moving average of $156.39. The firm has a market cap of $29.89 billion, a P/E ratio of 12.11, a PEG ratio of 3.55 and a beta of 0.75.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company posted $5.12 earnings per share. Sell-side analysts anticipate that M&T Bank Co. will post 14.23 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. M&T Bank’s dividend payout ratio is presently 36.51%.

Insider Transactions at M&T Bank

In related news, Director Kirk W. Walters sold 7,464 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the sale, the director now directly owns 15,045 shares in the company, valued at approximately $2,617,378.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the sale, the insider now owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the transaction, the director now owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock worth $5,115,349 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the topic of a number of analyst reports. Wells Fargo & Company lowered shares of M&T Bank from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $170.00 to $165.00 in a report on Thursday, August 15th. Citigroup lifted their target price on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Piper Sandler upped their price target on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $183.00 to $215.00 in a report on Tuesday, September 3rd. Finally, StockNews.com downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $185.75.

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.