M&T Bank Co. (NYSE:MTB) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lifted its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 34.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,835 shares of the financial services provider's stock after buying an additional 2,018 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in M&T Bank were worth $1,473,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in shares of M&T Bank by 7.0% during the 2nd quarter. American Century Companies Inc. now owns 61,818 shares of the financial services provider's stock valued at $9,357,000 after purchasing an additional 4,067 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of M&T Bank by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 241,213 shares of the financial services provider's stock worth $36,510,000 after purchasing an additional 13,278 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of M&T Bank by 1.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 38,303 shares of the financial services provider's stock valued at $5,798,000 after buying an additional 551 shares in the last quarter. Argent Trust Co boosted its holdings in M&T Bank by 9.3% in the 2nd quarter. Argent Trust Co now owns 1,506 shares of the financial services provider's stock worth $228,000 after buying an additional 128 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of M&T Bank by 28.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 7,960 shares of the financial services provider's stock valued at $1,196,000 after purchasing an additional 1,743 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insiders Place Their Bets

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction on 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 transaction, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,994 shares of company stock worth $17,211,278 over the last three months. Company insiders own 0.82% of the company's stock.

M&T Bank Price Performance

NYSE:MTB traded up $0.78 during trading hours on Friday, reaching $196.88. 2,029,408 shares of the company were exchanged, compared to its average volume of 1,013,933. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70. The firm has a market cap of $32.67 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79. The stock's 50-day moving average is $202.41 and its 200-day moving average is $183.71.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm posted $2.74 earnings per share. On average, sell-side analysts anticipate that M&T Bank Co. will post 14.58 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced 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 2.74%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank's dividend payout ratio is currently 39.97%.

Analysts Set New Price Targets

A number of research analysts have weighed in on MTB shares. DA Davidson boosted their price objective on shares of M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a research report on Friday. Keefe, Bruyette & Woods upped their target price on M&T Bank from $205.00 to $221.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Truist Financial reiterated a "buy" rating and issued a $236.00 target price (up previously from $233.00) on shares of M&T Bank in a research note on Friday. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their target price on M&T Bank from $216.00 to $243.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $221.68.

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.