Visionary Horizons LLC Raises Stake in M&T Bank Co. (NYSE:MTB)

Visionary Horizons LLC increased its stake in M&T Bank Co. (NYSE:MTB) by 7.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,533 shares of the financial services provider’s stock after buying an additional 236 shares during the period. Visionary Horizons LLC’s holdings in M&T Bank were worth $629,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTB. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in M&T Bank by 7.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock valued at $72,357,000 after purchasing an additional 35,692 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in M&T Bank by 0.6% during the first quarter. State of Alaska Department of Revenue now owns 18,024 shares of the financial services provider’s stock valued at $2,621,000 after purchasing an additional 100 shares during the last quarter. Norden Group LLC purchased a new stake in M&T Bank during the first quarter valued at about $784,000. First Trust Direct Indexing L.P. lifted its holdings in M&T Bank by 16.3% during the first quarter. First Trust Direct Indexing L.P. now owns 3,347 shares of the financial services provider’s stock valued at $487,000 after purchasing an additional 470 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new stake in M&T Bank during the first quarter valued at about $2,259,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the sale, the chief executive officer now owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the sale, the chief executive officer now owns 77,226 shares of the company’s stock, valued at $14,972,576.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the completion of the sale, the director now directly owns 49,960 shares of the company’s stock, valued at $9,690,741.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,234 shares of company stock valued at $12,586,627. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Bank of America upped their price target on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group upped their price target on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wolfe Research upgraded shares of 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. Finally, Citigroup upped their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $198.76.

M&T Bank Stock Down 1.2 %

Shares of NYSE MTB opened at $192.25 on Friday. M&T Bank Co. has a one year low of $112.60 and a one year high of $200.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. The firm’s 50 day simple moving average is $179.30 and its two-hundred day simple moving average is $162.56. The stock has a market capitalization of $32.08 billion, a P/E ratio of 14.23, a PEG ratio of 2.80 and a beta of 0.75.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 yield of 2.81%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is currently 39.97%.

M&T Bank 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.