Czech National Bank Boosts Holdings in M&T Bank Co. (NYSE:MTB)

Czech National Bank increased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,019 shares of the financial services provider’s stock after buying an additional 2,224 shares during the period. Czech National Bank’s holdings in M&T Bank were worth $6,059,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MTB. General Partner Inc. acquired a new stake in shares of M&T Bank in the first quarter valued at $27,000. Fidelis Capital Partners LLC purchased a new position in shares of M&T Bank in the 1st quarter valued at about $30,000. Oakworth Capital Inc. purchased a new position in shares of M&T Bank in the 2nd quarter valued at about $35,000. Quent Capital LLC increased its stake in shares of M&T Bank by 75.7% during the third quarter. Quent Capital LLC now owns 397 shares of the financial services provider’s stock worth $71,000 after buying an additional 171 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of M&T Bank by 82.7% during the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after buying an additional 201 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company cut shares of M&T Bank from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $170.00 to $165.00 in a report on Thursday, August 15th. Bank of America raised their price target on M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Friday, October 4th. Keefe, Bruyette & Woods raised their target price on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group upped their price target on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $185.75.

M&T Bank Stock Down 0.0 %

Shares of NYSE:MTB opened at $179.08 on Friday. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $180.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $29.88 billion, a P/E ratio of 12.11, a P/E/G ratio of 3.55 and a beta of 0.75. The firm has a fifty day moving average price of $169.18 and a 200 day moving average price of $156.55.

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 the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter in the prior year, the firm earned $5.12 earnings per share. Sell-side analysts predict that M&T Bank Co. will post 14.23 EPS for the current year.

M&T Bank Dividend Announcement

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

Insider Transactions at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction on 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 in the company, valued at $5,476,225.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’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 completion of the sale, the director now owns 31,796 shares in the company, valued at $5,476,225.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction that occurred on 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 directly owns 16,429 shares in the company, valued at $2,834,002.50. 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 90 days. 0.82% of the stock is currently owned by insiders.

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.