Courier Capital LLC Has $6.03 Million Position in M&T Bank Co. (NYSE:MTB)

Courier Capital LLC lifted its stake in shares of M&T Bank Co. (NYSE:MTB) by 2.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,084 shares of the financial services provider’s stock after buying an additional 663 shares during the quarter. Courier Capital LLC’s holdings in M&T Bank were worth $6,032,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms have commented on MTB. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. Bank of America raised their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Barclays boosted their price target on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Finally, Compass Point raised their price objective on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $216.86.

M&T Bank Trading Up 1.9 %

Shares of NYSE MTB traded up $3.60 during trading on Monday, reaching $191.35. The company had a trading volume of 1,373,138 shares, compared to its average volume of 1,166,710. M&T Bank Co. has a 12 month low of $128.31 and a 12 month high of $225.70. 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 stock has a market cap of $31.75 billion, a P/E ratio of 14.16, a PEG ratio of 2.79 and a beta of 0.79. The company’s fifty day moving average price is $203.16 and its 200-day moving average price is $182.33.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during 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, research analysts expect that M&T Bank Co. will post 14.63 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.82%. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

Insiders Place Their Bets

In other news, Vice Chairman Kevin J. Pearson sold 7,500 shares of M&T Bank stock in a transaction on Friday, November 1st. The shares were sold at an average price of $195.88, for a total value of $1,469,100.00. Following the completion of the sale, the insider now owns 40,502 shares in the company, valued at $7,933,531.76. The trade was a 15.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. 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. Company 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.