M&T Bank Co. (NYSE:MTB) Shares Acquired by Blair William & Co. IL

Blair William & Co. IL raised its holdings in shares of M&T Bank Co. (NYSE:MTB) by 26.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,982 shares of the financial services provider’s stock after purchasing an additional 1,453 shares during the period. Blair William & Co. IL’s holdings in M&T Bank were worth $1,057,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. General Partner Inc. acquired a new position in shares of M&T Bank during the first quarter worth $27,000. Fidelis Capital Partners LLC acquired a new position in shares of M&T Bank during the first quarter worth $30,000. Oakworth Capital Inc. acquired a new position in shares of M&T Bank during the second quarter worth $35,000. Versant Capital Management Inc increased its position in shares of M&T Bank by 82.7% during the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 201 shares in the last quarter. Finally, Bank & Trust Co acquired a new position in shares of M&T Bank during the second quarter worth $70,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MTB shares. Wells Fargo & Company lowered shares of M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $170.00 to $165.00 in a report on Thursday, August 15th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Piper Sandler boosted their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, Morgan Stanley boosted their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $178.35.

M&T Bank Trading Down 1.6 %

MTB stock opened at $174.86 on Wednesday. The company’s 50-day simple moving average is $168.09 and its 200-day simple moving average is $154.06. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $180.63. The firm has a market cap of $29.18 billion, a P/E ratio of 11.82, a PEG ratio of 3.32 and a beta of 0.76.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the prior year, the company posted $5.12 EPS. As a group, equities analysts forecast that M&T Bank Co. will post 14.24 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.09%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Buying and Selling

In related news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock worth $5,115,349 in the last 90 days. 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.