180 Wealth Advisors LLC bought a new stake in M&T Bank Co. (NYSE:MTB - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,262 shares of the financial services provider's stock, valued at approximately $237,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC grew its holdings in shares of M&T Bank by 13.9% during the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider's stock worth $2,199,675,000 after buying an additional 1,508,846 shares during the last quarter. State Street Corp grew its stake in shares of M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider's stock valued at $1,562,725,000 after purchasing an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of M&T Bank by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider's stock valued at $897,216,000 after purchasing an additional 190,837 shares during the period. Geode Capital Management LLC raised its stake in shares of M&T Bank by 1.6% during the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider's stock worth $768,824,000 after purchasing an additional 66,337 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of M&T Bank by 4.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider's stock worth $269,696,000 after purchasing an additional 81,004 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Truist Financial began coverage on shares of M&T Bank in a research note on Tuesday, January 7th. They issued a "buy" rating and a $233.00 price objective for the company. Wedbush upped their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $205.00 to $221.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, Wolfe Research raised M&T Bank from a "peer perform" rating to an "outperform" rating and set a $210.00 price target on the stock in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $216.86.
Check Out Our Latest Stock Analysis on MTB
Insider Activity at M&T Bank
In other news, EVP John R. Taylor sold 1,436 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the sale, the executive vice president now owns 5,618 shares in the company, valued at approximately $1,095,678.54. This represents a 20.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares of the company's stock, valued at $3,546,856.81. The trade was a 13.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,994 shares of company stock worth $17,211,278. Company insiders own 0.82% of the company's stock.
M&T Bank Price Performance
NYSE:MTB traded down $4.71 during trading hours on Thursday, reaching $196.16. 2,392,870 shares of the company's stock were exchanged, compared to its average volume of 1,422,347. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12 month low of $128.31 and a 12 month high of $225.70. The company has a market capitalization of $32.55 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79. The business's 50-day simple moving average is $202.90 and its two-hundred day simple moving average is $183.07.
M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same period in the prior year, the business posted $2.74 earnings per share. Sell-side analysts expect that M&T Bank Co. will post 14.58 EPS for the current fiscal year.
M&T Bank Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.75%. The ex-dividend date was Monday, December 2nd. M&T Bank's dividend payout ratio is currently 39.97%.
M&T Bank Company Profile
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Free Report)
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.
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