Seneca House Advisors Makes New Investment in M&T Bank Co. (NYSE:MTB)

Seneca House Advisors bought a new stake in shares of M&T Bank Co. (NYSE:MTB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,924 shares of the financial services provider’s stock, valued at approximately $343,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. General Partner Inc. bought a new stake in M&T Bank in the first quarter valued at $27,000. Fidelis Capital Partners LLC bought a new position in M&T Bank in the 1st quarter worth about $30,000. Oakworth Capital Inc. bought a new stake in shares of M&T Bank during the second quarter valued at approximately $35,000. Versant Capital Management Inc boosted 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 buying an additional 201 shares during the period. Finally, Bank & Trust Co bought a new position in M&T Bank in the 2nd quarter worth approximately $70,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MTB has been the subject of a number of recent analyst reports. DA Davidson increased their target price on shares of M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Bank of America lifted their target price on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Wedbush boosted their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Wells Fargo & Company cut shares of M&T Bank from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $170.00 to $165.00 in a report on Thursday, August 15th. Finally, Citigroup upped their price target on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average price target of $185.75.

Insiders Place Their Bets

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now owns 31,796 shares in the company, valued at $5,476,225.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now directly owns 15,045 shares in the company, valued at $2,617,378.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock worth $5,115,349 over the last quarter. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Up 3.7 %

Shares of NYSE:MTB traded up $6.40 during trading on Friday, reaching $178.74. 1,105,237 shares of the company traded hands, compared to its average volume of 1,023,173. The firm has a market cap of $29.82 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75. The firm has a fifty day simple moving average of $168.84 and a 200 day simple moving average of $155.72. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $180.63. 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 (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the company earned $5.12 earnings per share. Analysts anticipate that M&T Bank Co. will post 14.23 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

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.