Amalgamated Bank Has $5.84 Million Position in M&T Bank Co. (NYSE:MTB)

Amalgamated Bank lessened its position in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 22.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,771 shares of the financial services provider's stock after selling 9,515 shares during the quarter. Amalgamated Bank's holdings in M&T Bank were worth $5,837,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Hedeker Wealth LLC lifted its stake in shares of M&T Bank by 1.6% during the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider's stock valued at $627,000 after acquiring an additional 55 shares during the period. Frank Rimerman Advisors LLC lifted its stake in M&T Bank by 1.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider's stock valued at $1,005,000 after buying an additional 57 shares during the period. Hexagon Capital Partners LLC lifted its stake in 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 valued at $34,000 after buying an additional 68 shares during the period. Meitav Investment House Ltd. lifted its stake in M&T Bank by 3.1% in the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider's stock valued at $386,000 after buying an additional 69 shares during the period. Finally, Meeder Advisory Services Inc. lifted its stake in M&T Bank by 3.9% in the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider's stock valued at $273,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Up 0.6 %

Shares of NYSE:MTB traded up $1.35 during mid-day trading on Friday, reaching $209.46. 937,946 shares of the stock were exchanged, compared to its average volume of 1,049,718. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The stock's 50 day simple moving average is $182.71 and its 200-day simple moving average is $164.73. The company has a market cap of $34.95 billion, a P/E ratio of 15.50, a P/E/G ratio of 2.70 and a beta of 0.74. M&T Bank Co. has a one year low of $115.93 and a one year high of $216.84.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.58%. M&T Bank's dividend payout ratio is 39.97%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 1,590 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total value of $334,249.80. Following the completion of the transaction, the director now directly owns 2,108 shares in the company, valued at $443,143.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Kirk W. Walters sold 1,590 shares of M&T Bank stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total transaction of $334,249.80. Following the completion of the transaction, the director now directly owns 2,108 shares in the company, valued at approximately $443,143.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of M&T Bank stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the transaction, the insider now owns 40,502 shares of the company's stock, valued at $7,933,531.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,438 shares of company stock worth $12,622,007 over the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MTB has been the topic of several analyst reports. Piper Sandler increased their target price on M&T Bank from $164.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, July 22nd. Royal Bank of Canada increased their target price on M&T Bank from $190.00 to $208.00 and gave the company an "outperform" rating in a research note on Friday, October 18th. Wells Fargo & Company increased their target price on M&T Bank from $165.00 to $190.00 and gave the company an "underweight" rating in a research note on Friday, October 18th. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Finally, Barclays raised 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of "Hold" and an average price target of $198.76.

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.