nVerses Capital LLC Takes $53,000 Position in M&T Bank Co. (NYSE:MTB)

nVerses Capital LLC acquired a new position in M&T Bank Co. (NYSE:MTB) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 300 shares of the financial services provider’s stock, valued at approximately $53,000.

Several other hedge funds have also recently bought and sold shares of MTB. Fidelis Capital Partners LLC acquired a new stake in shares of M&T Bank in the first quarter valued at approximately $30,000. Hexagon Capital Partners LLC increased its position in M&T Bank by 54.4% in the 3rd 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 period. Oakworth Capital Inc. bought a new stake in M&T Bank during the 2nd quarter valued at $35,000. Versant Capital Management Inc boosted its position in M&T Bank by 82.7% during the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 201 shares during the period. Finally, Annapolis Financial Services LLC grew its stake 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 worth $67,000 after purchasing an additional 226 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Down 2.0 %

MTB stock opened at $193.63 on Tuesday. The company’s 50 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. 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 firm has a market capitalization of $32.31 billion, a P/E ratio of 13.09, a P/E/G ratio of 3.27 and a beta of 0.75.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.79%. M&T Bank’s payout ratio is currently 36.51%.

Insider Activity

In related news, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of M&T Bank 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 completion of the sale, the director now owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Gary N. Geisel sold 500 shares of the company’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 directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,699 shares of company stock worth $4,943,119. 0.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MTB. Piper Sandler upped their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Royal Bank of Canada upped their price target on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. The Goldman Sachs Group upped their target price on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Bank of America lifted their price target on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus price target of $197.47.

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.