SG Americas Securities LLC Acquires 80,061 Shares of M&T Bank Co. (NYSE:MTB)

SG Americas Securities LLC grew its holdings in M&T Bank Co. (NYSE:MTB) by 394.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 100,349 shares of the financial services provider’s stock after purchasing an additional 80,061 shares during the period. SG Americas Securities LLC owned approximately 0.06% of M&T Bank worth $17,874,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. General Partner Inc. bought a new stake in M&T Bank during the 1st quarter worth $27,000. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank in the 1st quarter valued at about $30,000. Oakworth Capital Inc. bought a new stake in shares of M&T Bank in the 2nd quarter valued at about $35,000. Versant Capital Management Inc grew its position in shares of M&T Bank by 82.7% in the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after buying an additional 201 shares during the last quarter. Finally, Bank & Trust Co bought a new stake in shares of M&T Bank in the 2nd quarter valued at about $70,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB stock traded up $6.40 during trading on Friday, hitting $178.74. The company’s stock had a trading volume of 1,105,237 shares, compared to its average volume of 1,023,173. The business has a fifty day moving average of $168.84 and a 200-day moving average of $155.72. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $180.63. The company has a market cap of $29.82 billion, a PE ratio of 12.09, a P/E/G ratio of 3.55 and a beta of 0.75. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates 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 period in the prior year, the company earned $5.12 earnings per share. As a group, research analysts anticipate that M&T Bank Co. will post 14.23 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given 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 dividend yield of 3.02%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Wall Street Analyst Weigh In

MTB has been the topic of a number of recent analyst reports. StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a research note on Thursday. Jefferies Financial Group upped their price target on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Wedbush upped their price target on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. DA Davidson upped their price target on M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Evercore ISI raised M&T Bank from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $187.00 to $210.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $185.75.

Insider Buying and Selling

In related news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s 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 sale, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now directly owns 31,796 shares in the company, valued at $5,476,225.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,699 shares of company stock worth $5,115,349. Corporate 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.