National Wealth Management Group LLC Buys Shares of 2,970 M&T Bank Co. (NYSE:MTB)

National Wealth Management Group LLC purchased a new position in shares of M&T Bank Co. (NYSE:MTB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,970 shares of the financial services provider’s stock, valued at approximately $529,000.

Several other large investors also recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of M&T Bank by 13.9% during the 3rd quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after acquiring an additional 1,508,846 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock worth $897,216,000 after acquiring an additional 190,837 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of M&T Bank by 4.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after acquiring an additional 81,004 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after acquiring an additional 93,113 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of M&T Bank by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after acquiring an additional 44,442 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. DA Davidson upped their price target on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Wedbush increased their target price on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and increased their target price for the company from $220.00 to $230.00 in a research note on Monday. Bank of America increased their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Barclays increased their target price on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus price target of $206.41.

M&T Bank Trading Up 0.0 %

Shares of MTB opened at $220.80 on Thursday. M&T Bank Co. has a 1 year low of $123.46 and a 1 year high of $225.70. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $194.82 and a 200-day simple moving average of $171.05. The stock has a market cap of $36.64 billion, a PE ratio of 16.34, a PEG ratio of 3.13 and a beta of 0.74.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, sell-side analysts predict that M&T Bank Co. will post 14.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given 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 yield of 2.45%. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Buying and Selling

In related news, Director Robert E. Sadler, Jr. sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total transaction of $396,000.00. Following the sale, the director now directly owns 29,796 shares in the company, valued at $5,899,608. This represents a 6.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Barnes sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $217.45, for a total value of $4,349,000.00. Following the sale, the director now owns 35,480 shares in the company, valued at approximately $7,715,126. This trade represents a 36.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,383 shares of company stock worth $17,925,801 in the last three months. 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.