Enterprise Bank & Trust Co Takes Position in M&T Bank Co. (NYSE:MTB)

Enterprise Bank & Trust Co bought a new position in shares of M&T Bank Co. (NYSE:MTB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,226 shares of the financial services provider’s stock, valued at approximately $218,000.

Other institutional investors have also recently added to or reduced their stakes in the company. General Partner Inc. acquired a new position in shares of M&T Bank during the 1st quarter valued at $27,000. Fidelis Capital Partners LLC acquired a new position in shares of M&T Bank during the first quarter valued at about $30,000. Hexagon Capital Partners LLC boosted its position in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares in the last quarter. Oakworth Capital Inc. bought a new position in shares of M&T Bank during the 2nd quarter worth about $35,000. Finally, Versant Capital Management Inc grew its stake 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 period. 84.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTB has been the subject of several recent research reports. DA Davidson boosted their price objective on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Citigroup boosted their price target on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Jefferies Financial Group raised their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Bank of America boosted their target price on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company downgraded M&T Bank from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $170.00 to $165.00 in a research note on Thursday, August 15th. Two equities research 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.com, the company has an average rating of “Hold” and a consensus target price of $185.75.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction on 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 owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the sale, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the director now owns 20,414 shares in the company, valued at approximately $502,184.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock valued at $5,115,349 in the last three months. Company insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

M&T Bank stock opened at $179.15 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank Co. has a one year low of $108.53 and a one year high of $180.63. The firm has a market capitalization of $29.89 billion, a P/E ratio of 12.11, a PEG ratio of 3.55 and a beta of 0.75. The business has a fifty day moving average price of $169.04 and a 200-day moving average price of $156.39.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the firm earned $5.12 EPS. As a group, equities research analysts forecast that M&T Bank Co. will post 14.23 EPS for the current year.

M&T Bank Dividend Announcement

The company 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. This represents a $5.40 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, September 3rd. 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.