Hudock Inc. Boosts Holdings in M&T Bank Co. (NYSE:MTB)

Hudock Inc. lifted its position in M&T Bank Co. (NYSE:MTB) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 10,402 shares of the financial services provider’s stock after acquiring an additional 347 shares during the period. Hudock Inc.’s holdings in M&T Bank were worth $1,853,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. 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 worth $34,000 after purchasing an additional 68 shares during the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of 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 acquiring an additional 70 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in M&T Bank by 1.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 70 shares during the period. Umpqua Bank grew its holdings in M&T Bank by 5.3% during the 2nd quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 73 shares in the last quarter. Finally, Procyon Advisors LLC raised its holdings in shares of M&T Bank by 1.7% in the 3rd quarter. Procyon Advisors LLC now owns 4,544 shares of the financial services provider’s stock valued at $809,000 after purchasing an additional 74 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Trading Up 0.4 %

M&T Bank stock traded up $0.80 during midday trading on Friday, reaching $195.30. 80,885 shares of the stock traded hands, compared to its average volume of 1,036,650. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a market cap of $32.59 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The company has a 50-day simple moving average of $174.96 and a two-hundred day simple moving average of $159.94. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $200.94.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MTB shares. Evercore ISI raised shares of M&T Bank from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $187.00 to $210.00 in a report on Wednesday, October 2nd. Piper Sandler boosted 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. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research report on Friday, October 4th. Royal Bank of Canada boosted their price objective on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group increased their target price on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $197.47.

Insider Activity

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $162.28, for a total transaction of $989,096.60. Following the sale, the insider now directly owns 47,944 shares in the company, valued at approximately $7,780,352.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the transaction, the director now directly owns 49,960 shares in the company, valued at approximately $9,690,741.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Kevin J. Pearson sold 6,095 shares of M&T Bank stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.28, for a total transaction of $989,096.60. Following the sale, the insider now owns 47,944 shares of the company’s stock, valued at approximately $7,780,352.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,735 shares of company stock valued at $7,437,757. 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.