Hennion & Walsh Asset Management Inc. raised its stake in shares of M&T Bank Co. (NYSE:MTB – Free Report) by 34.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,835 shares of the financial services provider’s stock after purchasing an additional 2,018 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in M&T Bank were worth $1,473,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Plato Investment Management Ltd boosted its stake in M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in M&T Bank during the third quarter worth $32,000. Hexagon Capital Partners LLC increased its stake in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in M&T Bank in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.
Insider Buying and Selling
In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John P. Barnes sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the transaction, the director now directly owns 49,960 shares in the company, valued at approximately $9,690,741.20. The trade was a 28.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,994 shares of company stock valued at $17,211,278. Insiders own 0.82% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on M&T Bank
M&T Bank Trading Up 0.4 %
M&T Bank stock opened at $196.88 on Friday. The stock has a 50-day moving average price of $202.41 and a 200 day moving average price of $183.49. M&T Bank Co. has a 52 week low of $128.31 and a 52 week high of $225.70. The stock has a market cap of $32.67 billion, a PE ratio of 14.57, a P/E/G ratio of 2.16 and a beta of 0.79. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.
M&T Bank (NYSE:MTB – Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same quarter in the prior year, the firm earned $2.74 earnings per share. Equities research analysts predict that M&T Bank Co. will post 14.58 earnings per share for the current fiscal year.
M&T Bank Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio is currently 39.97%.
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.
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