Oak Thistle LLC Takes $739,000 Position in M&T Bank Co. (NYSE:MTB)

Oak Thistle LLC purchased a new position in M&T Bank Co. (NYSE:MTB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,929 shares of the financial services provider’s stock, valued at approximately $739,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of M&T Bank in the third quarter worth $44,000. Principal Financial Group Inc. grew its position in M&T Bank by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock valued at $35,466,000 after purchasing an additional 2,797 shares during the last quarter. Smead Capital Management Inc. increased its stake in M&T Bank by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock valued at $87,959,000 after purchasing an additional 16,657 shares in the last quarter. National Pension Service raised its holdings in M&T Bank by 5.2% in the third quarter. National Pension Service now owns 268,138 shares of the financial services provider’s stock worth $47,761,000 after buying an additional 13,302 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of M&T Bank by 6.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 50,275 shares of the financial services provider’s stock worth $8,955,000 after buying an additional 2,883 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In other news, EVP Tracy S. Woodrow sold 2,121 shares of the firm’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 sale, the executive vice president now directly owns 5,141 shares in the company, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rene F. Jones sold 23,071 shares of the company’s 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 of the company’s stock, valued at $14,972,576.88. This represents a 23.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MTB has been the subject of several analyst reports. DA Davidson raised their price target on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Wedbush increased their target price on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods boosted their price target on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler increased their price objective on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company lifted their price objective on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $216.86.

M&T Bank Stock Up 3.1 %

MTB opened at $201.05 on Thursday. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70. The firm’s 50 day simple moving average is $203.21 and its two-hundred day simple moving average is $182.94. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $33.36 billion, a PE ratio of 14.88, a PEG ratio of 2.79 and a beta of 0.79.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, equities analysts forecast that M&T Bank Co. will post 14.63 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.69%. M&T Bank’s payout ratio is currently 39.97%.

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.