Investment House LLC Acquires New Stake in M&T Bank Co. (NYSE:MTB)

Investment House LLC acquired a new stake in shares of M&T Bank Co. (NYSE:MTB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,350 shares of the financial services provider’s stock, valued at approximately $204,000.

Other hedge funds have also made changes to their positions in the company. HHM Wealth Advisors LLC acquired a new position in shares of M&T Bank during the fourth quarter valued at approximately $25,000. General Partner Inc. acquired a new position in M&T Bank in the first quarter worth approximately $27,000. Fidelis Capital Partners LLC acquired a new position in M&T Bank in the first quarter worth approximately $30,000. Oakworth Capital Inc. acquired a new position in M&T Bank in the second quarter worth approximately $35,000. Finally, Principal Securities Inc. acquired a new position in M&T Bank in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the transaction, the director now directly owns 20,414 shares in the company, valued at $502,184.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were 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 $502,184.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total transaction of $86,250.00. Following the sale, the insider now directly owns 16,429 shares in the company, valued at $2,834,002.50. The disclosure for this sale can be found here. Insiders have sold a total of 22,699 shares of company stock valued at $3,395,049 over the last quarter. 0.82% of the stock is owned by company insiders.

M&T Bank Stock Performance

Shares of NYSE:MTB traded up $0.65 on Wednesday, hitting $162.91. 672,939 shares of the company were exchanged, compared to its average volume of 1,025,448. The company’s 50 day moving average price is $157.57 and its two-hundred day moving average price is $148.22. M&T Bank Co. has a one year low of $108.53 and a one year high of $176.44. 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 has a market capitalization of $27.18 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 3.34 and a beta of 0.77.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $5.12 earnings per share. Research analysts expect that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.31%. M&T Bank’s payout ratio is currently 36.51%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of M&T Bank from $180.00 to $183.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Piper Sandler lifted their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Bank of America lifted their price objective on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Citigroup lifted their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $173.85.

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.