Exchange Traded Concepts LLC Purchases New Shares in M&T Bank Co. (NYSE:MTB)

Exchange Traded Concepts LLC acquired a new stake in M&T Bank Co. (NYSE:MTB) during the third quarter, according to its most recent filing with the SEC. The firm acquired 399 shares of the financial services provider’s stock, valued at approximately $71,000.

A number of other hedge funds have also recently bought and sold shares of MTB. Hexagon Capital Partners LLC boosted its position in shares of 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 worth $34,000 after purchasing an additional 68 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in M&T Bank during the first quarter worth about $30,000. Oakworth Capital Inc. bought a new position in M&T Bank during the second quarter worth about $35,000. Quent Capital LLC lifted its holdings in M&T Bank by 75.7% during the third quarter. Quent Capital LLC now owns 397 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 171 shares in the last quarter. Finally, Versant Capital Management Inc raised 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 purchasing an additional 201 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.28, for a total value of $989,096.60. Following the completion of the sale, the insider now directly owns 47,944 shares in the company, valued at $7,780,352.32. 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 link. Also, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 31,199 shares of company stock worth $4,856,869. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Down 0.1 %

Shares of NYSE:MTB opened at $193.85 on Thursday. The firm has a market cap of $32.34 billion, a P/E ratio of 13.11, a P/E/G ratio of 3.27 and a beta of 0.75. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $200.94. The business has a fifty day simple moving average of $174.96 and a 200 day simple moving average of $159.94.

M&T Bank Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on MTB shares. Barclays lifted their price target on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. DA Davidson lifted their target price on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday. Bank of America lifted their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their price target on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group lifted their price target on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.