M&T Bank Co. (NYSE:MTB) Shares Purchased by Synergy Asset Management LLC

Synergy Asset Management LLC boosted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,195 shares of the financial services provider’s stock after buying an additional 317 shares during the period. Synergy Asset Management LLC’s holdings in M&T Bank were worth $2,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. General Partner Inc. acquired a new stake in shares of M&T Bank during the first quarter worth $27,000. Fidelis Capital Partners LLC purchased a new position in M&T Bank in the 1st quarter worth $30,000. Oakworth Capital Inc. acquired a new stake in M&T Bank during the 2nd quarter worth about $35,000. Principal Securities Inc. purchased a new stake in M&T Bank during the 4th quarter valued at about $34,000. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in shares of M&T Bank by 677.4% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 412 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 359 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at M&T Bank

In related news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now owns 20,414 shares in the company, valued at approximately $502,184.40. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock valued at $5,115,349 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MTB shares. Morgan Stanley lifted their target price on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada lifted their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. DA Davidson increased their price objective on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Citigroup boosted their target price on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Evercore ISI upped their price target on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and a consensus price target of $175.85.

M&T Bank Price Performance

MTB stock traded up $1.63 during mid-day trading on Friday, reaching $170.43. 61,526 shares of the company’s stock were exchanged, compared to its average volume of 1,007,941. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $176.44. The stock’s 50 day moving average is $162.96 and its 200 day moving average is $150.90. The company has a market cap of $28.44 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 3.45 and a beta of 0.77.

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 analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the firm posted $5.12 EPS. On average, research analysts expect that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $1.35 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.17%. 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.