Foundations Investment Advisors LLC Grows Holdings in M&T Bank Co. (NYSE:MTB)

Foundations Investment Advisors LLC grew its stake in shares of M&T Bank Co. (NYSE:MTB) by 14.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,167 shares of the financial services provider’s stock after buying an additional 280 shares during the quarter. Foundations Investment Advisors LLC’s holdings in M&T Bank were worth $386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MTB. Robinson Value Management Ltd. raised its position in M&T Bank by 1.4% during the third quarter. Robinson Value Management Ltd. now owns 26,448 shares of the financial services provider’s stock valued at $4,711,000 after purchasing an additional 377 shares in the last quarter. Vest Financial LLC increased its position in shares of M&T Bank by 1.3% during the 3rd quarter. Vest Financial LLC now owns 150,454 shares of the financial services provider’s stock valued at $26,799,000 after purchasing an additional 1,869 shares during the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of M&T Bank by 28.6% during the 3rd quarter. Resonant Capital Advisors LLC now owns 2,110 shares of the financial services provider’s stock valued at $376,000 after buying an additional 469 shares in the last quarter. Wealth Alliance Advisory Group LLC bought a new stake in M&T Bank in the 3rd quarter worth approximately $277,000. Finally, Raymond James & Associates boosted its stake in M&T Bank by 11.0% in the third quarter. Raymond James & Associates now owns 66,209 shares of the financial services provider’s stock worth $11,793,000 after buying an additional 6,552 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In other news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the sale, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,735 shares of company stock valued at $7,437,757 over the last ninety days. Company insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

MTB has been the subject of a number of recent research reports. Wedbush boosted their price objective 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. Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Citigroup lifted their price objective on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Friday, October 4th. Finally, Piper Sandler lifted their price target on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $197.47.

M&T Bank Price Performance

MTB stock opened at $192.57 on Friday. The firm has a 50-day moving average of $175.61 and a 200 day moving average of $160.18. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $32.13 billion, a P/E ratio of 13.02, a PEG ratio of 3.27 and a beta of 0.75. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $200.94.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.80%. M&T Bank’s dividend payout ratio is presently 36.51%.

M&T Bank Company 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.