M&T Bank Co. (NYSE:MTB) Holdings Reduced by Clearview Wealth Advisors LLC

Clearview Wealth Advisors LLC lessened its holdings in shares of M&T Bank Co. (NYSE:MTB) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,655 shares of the financial services provider’s stock after selling 81 shares during the period. Clearview Wealth Advisors LLC’s holdings in M&T Bank were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ritholtz Wealth Management acquired a new position in M&T Bank during the 2nd quarter worth $257,000. Essex Financial Services Inc. lifted its holdings in M&T Bank by 34.6% in the second quarter. Essex Financial Services Inc. now owns 14,546 shares of the financial services provider’s stock worth $2,202,000 after purchasing an additional 3,740 shares during the period. Aptus Capital Advisors LLC grew its position in M&T Bank by 5.9% in the 2nd quarter. Aptus Capital Advisors LLC now owns 1,958 shares of the financial services provider’s stock valued at $296,000 after buying an additional 109 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in M&T Bank during the 2nd quarter valued at about $100,000. Finally, Farther Finance Advisors LLC raised its position in shares of M&T Bank by 7.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,144 shares of the financial services provider’s stock worth $321,000 after buying an additional 145 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on MTB. Jefferies Financial Group increased their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Wells Fargo & Company lowered M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $170.00 to $165.00 in a research note on Thursday, August 15th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. raised their target price on M&T Bank from $180.00 to $183.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Finally, DA Davidson boosted their price target on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $173.85.

M&T Bank Stock Up 1.2 %

NYSE:MTB traded up $2.12 during trading hours on Friday, hitting $172.11. 753,895 shares of the stock traded hands, compared to its average volume of 820,523. The firm has a 50 day moving average price of $161.18 and a 200 day moving average price of $150.07. The firm has a market cap of $28.72 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 3.45 and a beta of 0.77. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $176.44. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the firm earned $5.12 earnings per share. Equities research analysts anticipate that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s payout ratio is presently 36.51%.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the sale, the director now owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kirk W. Walters sold 7,464 shares of M&T Bank stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the sale, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,699 shares of company stock valued at $3,395,049. Corporate insiders own 0.82% of the company’s stock.

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.