nVerses Capital LLC Invests $53,000 in M&T Bank Co. (NYSE:MTB)

nVerses Capital LLC acquired a new stake in shares of M&T Bank Co. (NYSE:MTB) during the third quarter, HoldingsChannel.com reports. The fund acquired 300 shares of the financial services provider’s stock, valued at approximately $53,000.

A number of other institutional investors have also made changes to their positions in the stock. Marshall Wace LLP grew its holdings in M&T Bank by 232.1% during the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after purchasing an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after buying an additional 319,051 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after acquiring an additional 93,113 shares during the period. National Bank of Canada FI lifted its position in M&T Bank by 195.1% during the 1st quarter. National Bank of Canada FI now owns 126,773 shares of the financial services provider’s stock worth $19,480,000 after acquiring an additional 83,814 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in M&T Bank by 4.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after acquiring an additional 81,004 shares during the period. 84.68% of the stock is owned by institutional investors.

Insider Activity at M&T Bank

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction 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 transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,699 shares of company stock worth $4,943,119 over the last 90 days. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MTB. Wells Fargo & Company lifted their price objective on M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a research note on Friday. Citigroup increased their price objective 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. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Friday, October 4th. Evercore ISI raised shares of M&T Bank from an “in-line” rating to an “outperform” rating and increased their price target for the company from $187.00 to $210.00 in a report on Wednesday, October 2nd. Finally, Piper Sandler raised their price target on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average price target of $197.47.

M&T Bank Stock Performance

MTB stock opened at $193.63 on Tuesday. The company has a 50 day moving average price of $173.61 and a 200 day moving average price of $159.31. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $200.94. 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 capitalization of $32.31 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

About M&T Bank

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.