Culbertson A N & Co. Inc. Has $2.78 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Culbertson A N & Co. Inc. boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,758 shares of the financial services provider’s stock after purchasing an additional 1,490 shares during the period. Culbertson A N & Co. Inc.’s holdings in M&T Bank were worth $2,775,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MTB. FMR LLC lifted its holdings 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 valued at $2,199,675,000 after buying an additional 1,508,846 shares during the last quarter. State Street Corp increased its holdings in M&T Bank by 6.4% in the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after buying an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after acquiring an additional 190,837 shares in the last quarter. Geode Capital Management LLC lifted its stake in M&T Bank by 1.6% in the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock valued at $768,824,000 after acquiring an additional 66,337 shares during the last quarter. Finally, Senvest Management LLC grew its position in M&T Bank by 12.3% in the third quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock worth $157,252,000 after acquiring an additional 96,500 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MTB shares. Truist Financial restated a “buy” rating and set a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a report on Friday. Bank of America boosted their price target on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Compass Point upped their target price on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $221.68.

M&T Bank Trading Up 0.4 %

M&T Bank stock opened at $196.88 on Tuesday. M&T Bank Co. has a 12 month low of $128.31 and a 12 month high of $225.70. The stock has a market cap of $32.67 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79. The business has a 50 day moving average price of $202.41 and a two-hundred day moving average price of $183.95. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same quarter in the prior year, the company earned $2.74 EPS. As a group, equities analysts forecast that M&T Bank Co. will post 14.58 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insiders Place Their Bets

In other M&T Bank news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares in the company, valued at $1,134,875.75. This represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,994 shares of company stock worth $13,331,878 over the last quarter. Company insiders own 0.82% of the company’s stock.

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.