1,554 Shares in M&T Bank Co. (NYSE:MTB) Purchased by Wealth Alliance Advisory Group LLC

Wealth Alliance Advisory Group LLC acquired a new stake in M&T Bank Co. (NYSE:MTB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,554 shares of the financial services provider’s stock, valued at approximately $277,000.

Other hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC lifted its holdings in M&T Bank by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 15,878 shares of the financial services provider’s stock valued at $2,177,000 after purchasing an additional 439 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of M&T Bank during the 4th quarter worth about $788,000. Park Avenue Securities LLC boosted its holdings in shares of M&T Bank by 4.1% during the 1st quarter. Park Avenue Securities LLC now owns 6,074 shares of the financial services provider’s stock worth $883,000 after buying an additional 240 shares during the period. Ballentine Partners LLC bought a new stake in shares of M&T Bank during the 1st quarter worth about $216,000. Finally, Sound Income Strategies LLC grew its stake in M&T Bank by 8.8% in the 1st quarter. Sound Income Strategies LLC now owns 87,050 shares of the financial services provider’s stock valued at $12,661,000 after buying an additional 7,050 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. DA Davidson upped their price objective on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Piper Sandler lifted their target price on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and upped their price target for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods raised their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” 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 given a buy rating to the company. Based on data from MarketBeat, M&T Bank presently has an average rating of “Hold” and a consensus price target of $196.18.

M&T Bank Stock Down 0.7 %

Shares of NYSE MTB opened at $197.55 on Friday. The company has a market cap of $32.96 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 3.27 and a beta of 0.75. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $200.94. The stock has a 50-day moving average price of $172.93 and a two-hundred day moving average price of $158.78.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter in the prior year, the firm earned $5.12 EPS. As a group, analysts forecast that M&T Bank Co. will post 14.16 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.73%. M&T Bank’s dividend payout ratio is currently 36.51%.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the transaction, the director now owns 20,414 shares in the company, valued at approximately $502,184.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares of the company’s stock, valued at $7,724,491.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock valued at $5,115,349 in the last 90 days. Corporate insiders own 0.82% of the company’s stock.

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.