10,299 Shares in M&T Bank Co. (NYSE:MTB) Purchased by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas bought a new position in M&T Bank Co. (NYSE:MTB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,299 shares of the financial services provider’s stock, valued at approximately $1,834,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd raised its position in shares of M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of M&T Bank in the third quarter valued at approximately $32,000. Hexagon Capital Partners LLC raised its position in shares of 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 valued at $34,000 after purchasing an additional 68 shares during the period. Oakworth Capital Inc. bought a new stake in shares of M&T Bank in the second quarter valued at approximately $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the period. Institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $199.29 on Friday. M&T Bank Co. has a 52-week low of $128.31 and a 52-week high of $225.70. The stock has a market capitalization of $33.07 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 2.83 and a beta of 0.76. The company has a fifty day moving average of $203.04 and a 200-day moving average of $175.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Equities research analysts expect that M&T Bank Co. will post 14.63 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued 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 2.71%. M&T Bank’s dividend payout ratio is currently 39.97%.

Wall Street Analyst Weigh In

MTB has been the topic of several research reports. Wedbush boosted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Piper Sandler boosted their price objective on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Keefe, Bruyette & Woods boosted their price objective on shares of M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Barclays boosted their price objective on shares of 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. Finally, Compass Point boosted their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $211.58.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Barnes sold 20,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the sale, the director now directly owns 35,480 shares in the company, valued at $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 sold 84,994 shares of company stock worth $17,211,278 in the last three months. 0.82% of the stock is owned by insiders.

M&T Bank Company 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.