Regent Peak Wealth Advisors LLC Makes New Investment in M&T Bank Co. (NYSE:MTB)

Regent Peak Wealth Advisors LLC bought a new stake in M&T Bank Co. (NYSE:MTB) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,241 shares of the financial services provider’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Ontario Teachers Pension Plan Board boosted its stake in M&T Bank by 43.1% in the first quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after purchasing an additional 3,739 shares in the last quarter. Leuthold Group LLC acquired a new stake in M&T Bank in the 1st quarter valued at about $3,125,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of M&T Bank by 7.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after acquiring an additional 35,692 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of M&T Bank by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after purchasing an additional 18,566 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its holdings in shares of M&T Bank by 60.0% in the second quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock valued at $4,964,000 after purchasing an additional 12,304 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now owns 31,796 shares in the company, valued at approximately $5,476,225.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Michael J. Todaro sold 4,791 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $162.57, for a total value of $778,872.87. Following the transaction, the executive vice president now directly owns 3,086 shares of the company’s stock, valued at $501,691.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the sale, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is owned by company insiders.

Analyst Ratings Changes

MTB has been the subject of several research reports. Wells Fargo & Company cut M&T Bank from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $170.00 to $165.00 in a research note on Thursday, August 15th. Jefferies Financial Group raised their target price on shares of M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Bank of America increased their price objective on shares of M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and upped their target price for the company from $187.00 to $210.00 in a research report on Wednesday, October 2nd. Finally, Piper Sandler raised their price target on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $185.75.

M&T Bank Stock Up 1.8 %

MTB traded up $3.32 on Wednesday, hitting $189.20. 410,323 shares of the company were exchanged, compared to its average volume of 1,019,929. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s fifty day moving average is $170.90 and its 200-day moving average is $157.77. The company has a market cap of $31.57 billion, a PE ratio of 12.57, a PEG ratio of 3.27 and a beta of 0.75. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $190.41.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the prior year, the firm posted $5.12 EPS. Equities research analysts predict that M&T Bank Co. will post 14.16 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.85%. M&T Bank’s dividend payout ratio is presently 36.51%.

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.