Neville Rodie & Shaw Inc. Purchases Shares of 1,062 M&T Bank Co. (NYSE:MTB)

Neville Rodie & Shaw Inc. purchased a new position in shares of M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,062 shares of the financial services provider’s stock, valued at approximately $200,000.

Other hedge funds have also recently made changes to their positions in the company. Hedeker Wealth LLC increased its holdings in M&T Bank by 1.6% in the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in shares of M&T Bank by 1.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after buying an additional 57 shares during the period. Crestwood Advisors Group LLC increased its stake in shares of M&T Bank by 1.9% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 57 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares during the period. Finally, Meitav Investment House Ltd. grew its holdings in M&T Bank by 3.1% in the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 69 shares during the period. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MTB shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Friday, October 4th. Bank of America boosted their price objective on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company increased their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. Finally, Piper Sandler boosted their price target on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and an average price target of $215.91.

M&T Bank Stock Performance

MTB stock opened at $193.02 on Tuesday. The business has a 50 day moving average of $203.53 and a 200-day moving average of $181.13. The firm has a market cap of $32.03 billion, a PE ratio of 14.29, a P/E/G ratio of 2.83 and a beta of 0.79. M&T Bank Co. has a 12-month low of $128.31 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.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.48. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, sell-side analysts expect that M&T Bank Co. will post 14.63 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio is currently 39.97%.

Insider Transactions at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were 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 in the company, valued at $9,690,741.20. This represents a 28.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock worth $17,211,278 in the last quarter. Insiders own 0.82% of the company’s stock.

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.