Benjamin Edwards Inc. Makes New $1.07 Million Investment in M&T Bank Co. (NYSE:MTB)

Benjamin Edwards Inc. purchased a new stake in M&T Bank Co. (NYSE:MTB - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,026 shares of the financial services provider's stock, valued at approximately $1,074,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Hedeker Wealth LLC raised its position in M&T Bank by 1.6% in the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider's stock valued at $627,000 after buying an additional 55 shares during the last quarter. Frank Rimerman Advisors LLC grew its stake in shares of M&T Bank by 1.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider's stock worth $1,005,000 after acquiring an additional 57 shares in the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of M&T Bank by 1.9% in the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider's stock valued at $553,000 after purchasing an additional 57 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in shares of M&T Bank by 54.4% in the third 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. Finally, Meitav Investment House Ltd. boosted its holdings in M&T Bank by 3.1% during the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider's stock worth $386,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Performance

M&T Bank stock traded down $1.16 during trading hours on Friday, hitting $211.26. The company had a trading volume of 789,697 shares, compared to its average volume of 842,760. M&T Bank Co. has a one year low of $128.31 and a one year high of $225.70. The firm has a market cap of $35.05 billion, a PE ratio of 15.64, a PEG ratio of 2.98 and a beta of 0.76. The firm has a 50-day moving average of $200.25 and a 200 day moving average of $174.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, sell-side analysts expect that M&T Bank Co. will post 14.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be given a $1.35 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.56%. M&T Bank's payout ratio is presently 39.97%.

Insider Activity at M&T Bank

In other news, Director John P. Barnes sold 20,000 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the sale, the director now directly owns 49,960 shares in the company, valued at approximately $9,690,741.20. This represents a 28.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now owns 16,429 shares in the company, 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 three months, insiders have sold 84,994 shares of company stock worth $17,211,278. Corporate insiders own 0.82% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MTB shares. Wells Fargo & Company lifted their price target on shares of M&T Bank from $190.00 to $205.00 and gave the company an "underweight" rating in a research note on Friday, November 15th. Wolfe Research raised M&T Bank from a "peer perform" rating to an "outperform" rating and set a $210.00 target price on the stock in a research report on Friday, October 4th. Keefe, Bruyette & Woods increased their price target on M&T Bank from $205.00 to $221.00 and gave the company a "market perform" rating in a research report on Wednesday. Barclays boosted their price target on M&T Bank from $170.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. Finally, Wedbush increased their price objective on M&T Bank from $208.00 to $210.00 and gave the company an "outperform" rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $209.32.

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.