Wilmington Savings Fund Society FSB Boosts Stake in M&T Bank Co. (NYSE:MTB)

Wilmington Savings Fund Society FSB increased its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 80.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,901 shares of the financial services provider's stock after acquiring an additional 6,205 shares during the period. Wilmington Savings Fund Society FSB's holdings in M&T Bank were worth $2,476,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Plato Investment Management Ltd grew its position in shares of 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 acquiring an additional 161 shares during the period. Ashton Thomas Securities LLC purchased a new stake in M&T Bank in the third quarter worth $32,000. Hexagon Capital Partners LLC raised its stake 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 valued at $34,000 after buying an additional 68 shares during the period. Oakworth Capital Inc. purchased a new position in shares of M&T Bank during the 2nd quarter valued at $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock worth $37,000 after acquiring an additional 158 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the stock in a transaction on Tuesday, October 22nd. The shares were 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 owns 49,960 shares of the company's stock, valued at $9,690,741.20. This represents a 28.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Rene F. Jones sold 23,071 shares of the business's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the transaction, the chief executive officer now owns 77,226 shares in the company, valued at $14,972,576.88. The trade was a 23.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 84,994 shares of company stock valued at $17,211,278. Corporate insiders own 0.82% of the company's stock.

M&T Bank Price Performance

MTB stock traded down $0.66 during midday trading on Friday, reaching $199.29. The company had a trading volume of 1,654,907 shares, compared to its average volume of 1,042,892. The firm has a 50-day moving average price of $203.04 and a 200-day moving average price of $175.70. 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 capitalization of $33.07 billion, a P/E ratio of 14.75, a P/E/G ratio of 2.83 and a beta of 0.76. M&T Bank Co. has a 1 year low of $128.31 and a 1 year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. On average, research analysts anticipate that M&T Bank Co. will post 14.63 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a dividend of $1.35 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.71%. M&T Bank's dividend payout ratio is 39.97%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTB. Royal Bank of Canada boosted their price objective 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. Barclays boosted their price target on shares of M&T Bank from $170.00 to $228.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. Wolfe Research raised shares of M&T Bank from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective for the company in a report on Friday, October 4th. Piper Sandler lifted their price objective on shares of M&T Bank from $205.00 to $243.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods increased their target price on M&T Bank from $205.00 to $221.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, M&T Bank has an average rating of "Hold" and an average price target of $211.58.

About M&T Bank

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.