Bank & Trust Co Invests $70,000 in M&T Bank Co. (NYSE:MTB)

Bank & Trust Co bought a new stake in shares of M&T Bank Co. (NYSE:MTB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 462 shares of the financial services provider’s stock, valued at approximately $70,000.

Several other large investors have also recently made changes to their positions in MTB. DAVENPORT & Co LLC increased its stake in M&T Bank by 4.4% during the 4th quarter. DAVENPORT & Co LLC now owns 3,276 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 139 shares in the last quarter. Arizona State Retirement System increased its position in shares of M&T Bank by 0.8% in the 4th quarter. Arizona State Retirement System now owns 45,609 shares of the financial services provider’s stock valued at $6,252,000 after acquiring an additional 356 shares during the period. International Assets Investment Management LLC purchased a new position in M&T Bank in the 4th quarter worth $11,759,000. Prime Capital Investment Advisors LLC purchased a new position in M&T Bank in the 4th quarter worth $227,000. Finally, Alpine Woods Capital Investors LLC acquired a new stake in M&T Bank during the 4th quarter worth about $202,000. 84.68% of the stock is owned by institutional investors.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,821 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $153.78, for a total value of $280,033.38. Following the transaction, the executive vice president now owns 8,579 shares in the company, valued at approximately $1,319,278.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, EVP Christopher E. Kay sold 1,821 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $153.78, for a total value of $280,033.38. Following the completion of the sale, the executive vice president now owns 8,579 shares in the company, valued at approximately $1,319,278.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now owns 31,796 shares in the company, valued at $5,476,225.08. The disclosure for this sale can be found here. Insiders have sold 61,986 shares of company stock valued at $9,730,154 over the last ninety days. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MTB shares. Royal Bank of Canada increased their price objective on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, July 19th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Piper Sandler upped their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods raised their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company boosted their target price on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $172.92.

M&T Bank Price Performance

M&T Bank stock traded up $0.32 during trading on Tuesday, reaching $160.29. The company had a trading volume of 959,839 shares, compared to its average volume of 1,046,213. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. The firm’s 50-day simple moving average is $154.28 and its 200 day simple moving average is $146.55. The firm has a market capitalization of $26.74 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $176.44.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates 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 last year, the business earned $5.12 earnings per share. As a group, equities research analysts anticipate that M&T Bank Co. will post 14.24 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Monday, June 3rd. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

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.