Aaron Wealth Advisors LLC Acquires New Position in M&T Bank Co. (NYSE:MTB)

Aaron Wealth Advisors LLC purchased a new stake in M&T Bank Co. (NYSE:MTB) in the fourth quarter, Holdings Channel reports. The firm purchased 1,257 shares of the financial services provider’s stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV increased its stake in shares of M&T Bank by 28.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,960 shares of the financial services provider’s stock worth $1,196,000 after acquiring an additional 1,743 shares during the last quarter. Blair William & Co. IL raised its stake in M&T Bank by 26.3% during the second quarter. Blair William & Co. IL now owns 6,982 shares of the financial services provider’s stock worth $1,057,000 after purchasing an additional 1,453 shares during the period. AE Wealth Management LLC boosted its holdings in M&T Bank by 37.6% in the 2nd quarter. AE Wealth Management LLC now owns 2,157 shares of the financial services provider’s stock valued at $326,000 after purchasing an additional 589 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of M&T Bank by 4.6% in the 2nd quarter. Pacer Advisors Inc. now owns 11,882 shares of the financial services provider’s stock valued at $1,798,000 after buying an additional 525 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of M&T Bank by 32.1% during the 2nd quarter. Sei Investments Co. now owns 68,822 shares of the financial services provider’s stock worth $10,417,000 after buying an additional 16,730 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In related news, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the transaction, the executive vice president now owns 5,618 shares in the company, valued at $1,095,678.54. This trade represents a 20.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rene F. Jones sold 23,071 shares of M&T Bank stock in a transaction on Monday, October 28th. The shares were sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at $14,972,576.88. The trade was a 23.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,994 shares of company stock worth $13,331,878 over the last three months. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MTB. Royal Bank of Canada upped their price objective on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Piper Sandler raised their price objective on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Truist Financial reaffirmed a “buy” rating and issued a $236.00 target price (up previously from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Evercore ISI lifted their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $221.68.

M&T Bank Trading Up 0.8 %

NYSE MTB opened at $198.25 on Wednesday. M&T Bank Co. has a 52 week low of $128.31 and a 52 week high of $225.70. The firm has a 50 day moving average of $202.06 and a two-hundred day moving average of $184.29. The stock has a market capitalization of $32.89 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 2.26 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period last year, the firm earned $2.74 EPS. As a group, research analysts expect that M&T Bank Co. will post 16.33 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

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.