Sheaff Brock Investment Advisors LLC Grows Stake in M&T Bank Co. (NYSE:MTB)

Sheaff Brock Investment Advisors LLC increased its stake in M&T Bank Co. (NYSE:MTB) by 24.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,125 shares of the financial services provider’s stock after acquiring an additional 1,000 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in M&T Bank were worth $913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its position in shares of M&T Bank by 4.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after buying an additional 81,004 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after buying an additional 93,113 shares during the period. Bank of New York Mellon Corp boosted its position in shares of M&T Bank by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after buying an additional 44,442 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of M&T Bank by 3.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after buying an additional 43,795 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in shares of M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after buying an additional 319,051 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 2,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total value of $396,000.00. Following the transaction, the director now directly owns 29,796 shares of the company’s stock, valued at $5,899,608. This represents a 6.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kirk W. Walters sold 2,471 shares of the company’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 directly owns 20,414 shares in the company, valued at approximately $502,184.40. The trade was a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,854 shares of company stock valued at $13,637,588. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $214.74 on Friday. The company has a market capitalization of $35.63 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 2.98 and a beta of 0.74. M&T Bank Co. has a 52 week low of $123.37 and a 52 week high of $216.84. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $187.11 and a 200 day moving average of $167.05.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, sell-side analysts predict that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is presently 39.97%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MTB. Evercore ISI boosted their target price on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Keefe, Bruyette & Woods boosted their price target on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Wedbush boosted their price target on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $199.65.

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.