6,444 Shares in M&T Bank Co. (NYSE:MTB) Bought by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new position in M&T Bank Co. (NYSE:MTB) during the 3rd quarter, Holdings Channel reports. The fund bought 6,444 shares of the financial services provider’s stock, valued at approximately $1,148,000.

Several other institutional investors have also recently bought and sold shares of the company. Plato Investment Management Ltd increased its holdings in shares of M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of M&T Bank during the 3rd quarter worth about $32,000. Hexagon Capital Partners LLC increased its holdings in shares of M&T Bank by 54.4% during the 3rd 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. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of M&T Bank by 329.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the period. Finally, Oakworth Capital Inc. bought a new position in shares of M&T Bank during the 2nd quarter worth about $35,000. Institutional investors own 84.68% of the company’s stock.

Insider Activity

In other M&T Bank news, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the transaction, the director now directly owns 49,960 shares of the company’s stock, valued at approximately $9,690,741.20. This trade represents a 28.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,994 shares of company stock valued at $17,211,278 over the last three months. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MTB shares. Barclays upped their target price on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their target price on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Royal Bank of Canada upped their target price on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Evercore ISI upped their target price on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $211.58.

M&T Bank Price Performance

MTB opened at $206.99 on Wednesday. M&T Bank Co. has a one year low of $128.31 and a one year high of $225.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The company’s 50 day simple moving average is $200.82 and its 200-day simple moving average is $174.61. The stock has a market capitalization of $34.34 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 2.96 and a beta of 0.76.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Sell-side analysts anticipate that M&T Bank Co. will post 14.63 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.61%. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

M&T Bank 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.