M&T Bank Co. (NYSE:MTB) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,401 shares of the financial services provider’s stock after buying an additional 305 shares during the quarter. Bleakley Financial Group LLC’s holdings in M&T Bank were worth $606,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Hexagon Capital Partners LLC boosted its stake in shares of M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in M&T Bank in the 1st quarter valued at about $30,000. Oakworth Capital Inc. acquired a new stake in shares of M&T Bank during the 2nd quarter worth about $35,000. nVerses Capital LLC purchased a new stake in shares of M&T Bank during the third quarter worth about $53,000. Finally, Annapolis Financial Services LLC raised its position in shares of M&T Bank by 150.7% in the third quarter. Annapolis Financial Services LLC now owns 376 shares of the financial services provider’s stock valued at $67,000 after buying an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In related 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 directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,699 shares of company stock valued at $4,943,119 over the last quarter. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MTB. Morgan Stanley raised their target price on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Evercore ISI upgraded M&T Bank from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $187.00 to $210.00 in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their target price on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Wells Fargo & Company increased their target price on M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $197.47.

M&T Bank Stock Performance

Shares of MTB stock opened at $193.63 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The company has a market cap of $32.31 billion, a PE ratio of 13.09, a P/E/G ratio of 3.27 and a beta of 0.75. The company’s fifty day simple moving average is $173.61 and its 200-day simple moving average is $159.31. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $200.94.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio 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.