Commonwealth Retirement Investments LLC Boosts Position in M&T Bank Co. (NYSE:MTB)

Commonwealth Retirement Investments LLC increased its holdings in M&T Bank Co. (NYSE:MTB) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,705 shares of the financial services provider’s stock after acquiring an additional 365 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in M&T Bank were worth $2,441,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Hedeker Wealth LLC raised its stake in M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock valued at $627,000 after purchasing an additional 55 shares during the period. Frank Rimerman Advisors LLC grew its holdings in M&T Bank by 1.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after buying an additional 57 shares in the last quarter. Crestwood Advisors Group LLC raised its position in shares of M&T Bank by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after buying an additional 57 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of 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 worth $34,000 after buying an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. boosted its position in shares of M&T Bank by 3.1% during the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 69 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays lifted their price target on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Wedbush raised their target price on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, Wells Fargo & Company boosted their price target on shares of M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $198.76.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 2,000 shares of M&T Bank stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total transaction of $396,000.00. Following the completion of the sale, the director now directly owns 29,796 shares in the company, valued at approximately $5,899,608. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robert E. Sadler, Jr. sold 2,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total transaction of $396,000.00. Following the completion of the transaction, the director now owns 29,796 shares of the company’s stock, valued at $5,899,608. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kirk W. Walters sold 1,590 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $210.22, for a total value of $334,249.80. Following the sale, the director now directly owns 2,108 shares in the company, valued at $443,143.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,088 shares of company stock worth $12,613,397. 0.82% of the stock is owned by insiders.

M&T Bank Stock Down 0.1 %

NYSE MTB traded down $0.24 during trading on Tuesday, reaching $214.40. 108,111 shares of the company’s stock traded hands, compared to its average volume of 1,046,200. The company’s 50 day simple moving average is $183.56 and its two-hundred day simple moving average is $165.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 1.00. The firm has a market cap of $35.57 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 2.97 and a beta of 0.74. M&T Bank Co. has a 12-month low of $116.07 and a 12-month high of $216.84.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data 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 firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. As a group, sell-side analysts forecast that M&T Bank Co. will post 14.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend 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.