Raymond James Trust N.A. Has $546,000 Holdings in M&T Bank Co. (NYSE:MTB)

Raymond James Trust N.A. increased its position in M&T Bank Co. (NYSE:MTB) by 27.2% in the third quarter, HoldingsChannel reports. The firm owned 3,065 shares of the financial services provider’s stock after acquiring an additional 656 shares during the period. Raymond James Trust N.A.’s holdings in M&T Bank were worth $546,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MTB. Charles Schwab Investment Management Inc. grew its holdings in shares of M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after buying an additional 190,837 shares in the last quarter. John G Ullman & Associates Inc. purchased a new position in M&T Bank during the 3rd quarter valued at about $553,000. Citizens Financial Group Inc. RI increased its holdings in shares of M&T Bank by 28.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,894 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 420 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of M&T Bank in the third quarter worth approximately $1,564,000. Finally, SouthState Corp boosted its holdings in shares of M&T Bank by 25.8% during the third quarter. SouthState Corp now owns 6,139 shares of the financial services provider’s stock worth $1,093,000 after purchasing an additional 1,258 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Up 0.4 %

Shares of MTB stock opened at $221.96 on Tuesday. M&T Bank Co. has a 12 month low of $123.46 and a 12 month high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm has a market cap of $36.83 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74. The stock has a 50 day moving average of $192.95 and a 200-day moving average of $170.23.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. On average, equities analysts predict that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $1.35 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.43%. M&T Bank’s dividend payout ratio is 39.97%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays upped their price objective on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Friday, October 4th. Bank of America boosted their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. DA Davidson lifted their price target on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, Morgan Stanley increased their price objective on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $201.71.

Insider Buying and Selling at M&T Bank

In related news, Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $217.45, for a total value of $4,349,000.00. Following the completion of the transaction, the director now directly owns 35,480 shares in the company, valued at approximately $7,715,126. This represents a 36.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction on 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 sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. This represents a 18.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,383 shares of company stock valued at $17,925,801 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

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.