National Wealth Management Group LLC Takes Position in M&T Bank Co. (NYSE:MTB)

National Wealth Management Group LLC acquired a new stake in M&T Bank Co. (NYSE:MTB - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,970 shares of the financial services provider's stock, valued at approximately $529,000.

Several other hedge funds also recently added to or reduced their stakes in MTB. Plato Investment Management Ltd grew its holdings in M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank in the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC lifted its position in shares of M&T Bank by 54.4% during 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 during the last quarter. Oakworth Capital Inc. bought a new stake in M&T Bank in the second quarter valued at about $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock valued at $37,000 after buying an additional 158 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at M&T Bank

In other news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the sale, the insider now directly owns 40,502 shares of the company's stock, valued at $7,933,531.76. The trade was a 15.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction on 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 completion of the transaction, the director now owns 44,902 shares of the company's stock, valued at $7,724,491.06. This trade represents a 18.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 90,383 shares of company stock valued at $17,925,801. 0.82% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MTB. Barclays raised their price objective on M&T Bank from $170.00 to $228.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Morgan Stanley lifted their price target on shares of M&T Bank from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Monday, August 5th. Bank of America increased their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the stock a "buy" 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 note on Monday, October 21st. Finally, StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $206.41.

M&T Bank Price Performance

Shares of M&T Bank stock traded up $0.05 on Thursday, hitting $220.80. The company had a trading volume of 580,794 shares, compared to its average volume of 1,039,346. M&T Bank Co. has a 52 week low of $123.46 and a 52 week high of $225.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $36.64 billion, a PE ratio of 16.34, a PEG ratio of 3.13 and a beta of 0.74. The business has a 50-day simple moving average of $194.82 and a 200-day simple moving average of $171.05.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. Research analysts expect that M&T Bank Co. will post 14.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank's dividend payout ratio (DPR) is presently 39.97%.

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.