Courier Capital LLC Has $5.60 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Courier Capital LLC cut its stake in shares of M&T Bank Co. (NYSE:MTB) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,421 shares of the financial services provider’s stock after selling 283 shares during the period. Courier Capital LLC’s holdings in M&T Bank were worth $5,597,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MTB. Hexagon Capital Partners LLC raised its stake in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares during the period. Fidelis Capital Partners LLC bought a new stake in M&T Bank in the first quarter valued at approximately $30,000. Oakworth Capital Inc. bought a new stake in M&T Bank in the second quarter valued at approximately $35,000. nVerses Capital LLC bought a new stake in M&T Bank in the third quarter valued at approximately $53,000. Finally, Annapolis Financial Services LLC raised its stake in M&T Bank by 150.7% in the third quarter. Annapolis Financial Services LLC now owns 376 shares of the financial services provider’s stock valued at $67,000 after buying an additional 226 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MTB shares. Jefferies Financial Group upped their price objective on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada upped their price objective on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Bank of America increased their target price on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. DA Davidson increased their target price on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Citigroup increased their target price on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $197.47.

M&T Bank Trading Down 0.2 %

Shares of MTB stock traded down $0.47 during mid-day trading on Wednesday, hitting $193.60. The company’s stock had a trading volume of 167,182 shares, compared to its average volume of 1,035,699. The company’s fifty day simple moving average is $174.28 and its 200-day simple moving average is $159.70. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $200.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $32.30 billion, a PE ratio of 13.13, a P/E/G ratio of 3.27 and a beta of 0.75.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Transactions at M&T Bank

In related news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.28, for a total value of $989,096.60. Following the completion of the sale, the insider now directly owns 47,944 shares of the company’s stock, valued at $7,780,352.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.28, for a total value of $989,096.60. Following the completion of the sale, the insider now directly owns 47,944 shares of the company’s stock, valued at $7,780,352.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,199 shares of company stock valued at $4,856,869. Corporate insiders own 0.82% of the company’s stock.

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.