Private Advisor Group LLC Grows Position in M&T Bank Co. (NYSE:MTB)

Private Advisor Group LLC lifted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 1.6% in the third quarter, HoldingsChannel.com reports. The firm owned 27,255 shares of the financial services provider’s stock after acquiring an additional 435 shares during the quarter. Private Advisor Group LLC’s holdings in M&T Bank were worth $4,855,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in M&T Bank by 4.8% during the 2nd 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. Dimensional Fund Advisors LP boosted its holdings in M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after acquiring an additional 93,113 shares during the period. Bank of New York Mellon Corp boosted its holdings in M&T Bank by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after acquiring an additional 44,442 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in M&T Bank by 3.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after acquiring an additional 43,795 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in M&T Bank by 77.0% during 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 acquiring an additional 319,051 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at M&T Bank

In related news, EVP Michael J. Todaro sold 4,791 shares of M&T Bank stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $162.57, for a total value of $778,872.87. Following the sale, the executive vice president now directly owns 3,086 shares in the company, valued at $501,691.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Michael J. Todaro sold 4,791 shares of M&T Bank stock in a transaction on Friday, August 9th. The stock was sold at an average price of $162.57, for a total transaction of $778,872.87. Following the completion of the transaction, the executive vice president now directly owns 3,086 shares of the company’s stock, valued at approximately $501,691.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the transaction, the director now directly owns 49,960 shares of the company’s stock, valued at approximately $9,690,741.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,735 shares of company stock worth $7,437,757 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MTB. The Goldman Sachs Group raised their target price on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company increased their price target on M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Friday, October 4th. Barclays increased their price target on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Morgan Stanley increased their price target on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $197.47.

M&T Bank Stock Down 1.0 %

M&T Bank stock opened at $192.57 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $200.94. The company has a market cap of $32.13 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 2.75 and a beta of 0.75. The stock’s 50 day moving average price is $176.21 and its 200 day moving average price is $160.54.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.80%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

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.