Massmutual Trust Co. FSB ADV Purchases 205 Shares of M&T Bank Co. (NYSE:MTB)

Massmutual Trust Co. FSB ADV grew its position in shares of M&T Bank Co. (NYSE:MTB) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,916 shares of the financial services provider’s stock after acquiring an additional 205 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in M&T Bank were worth $876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Advisory Services Inc. grew its holdings in M&T Bank by 3.9% during the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock worth $273,000 after buying an additional 70 shares in the last quarter. Umpqua Bank grew its holdings in M&T Bank by 5.3% during the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock worth $221,000 after buying an additional 73 shares in the last quarter. Fulton Bank N.A. grew its holdings in M&T Bank by 2.3% during the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after buying an additional 81 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in M&T Bank by 6.7% during the second quarter. Citizens Financial Group Inc. RI now owns 1,474 shares of the financial services provider’s stock worth $223,000 after buying an additional 92 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in M&T Bank by 0.3% in the first quarter. Retirement Systems of Alabama now owns 36,672 shares of the financial services provider’s stock worth $5,334,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB opened at $178.74 on Friday. The stock’s 50-day simple moving average is $168.84 and its 200 day simple moving average is $155.72. The stock has a market capitalization of $29.82 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $180.63.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the prior year, the firm posted $5.12 EPS. Research analysts forecast that M&T Bank Co. will post 14.23 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. M&T Bank’s dividend payout ratio is currently 36.51%.

Analysts Set New Price Targets

MTB has been the topic of several research analyst reports. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research report on Friday. Bank of America boosted their price objective on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company cut M&T Bank from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $170.00 to $165.00 in a research report on Thursday, August 15th. Finally, Jefferies Financial Group boosted their price objective on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank has an average rating of “Hold” and a consensus target price of $185.75.

Insiders Place Their Bets

In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the transaction, the director now directly owns 20,414 shares in the company, valued at $502,184.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the transaction, the director now owns 20,414 shares in the company, valued at $502,184.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock worth $5,115,349 in the last ninety days. 0.82% of the stock is currently owned by insiders.

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.