Citizens & Northern Corp Purchases 1,107 Shares of M&T Bank Corporation $MTB

Citizens & Northern Corp increased its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 39.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,891 shares of the financial services provider’s stock after acquiring an additional 1,107 shares during the quarter. Citizens & Northern Corp’s holdings in M&T Bank were worth $755,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTB. GAMMA Investing LLC raised its position in shares of M&T Bank by 3.9% during the first quarter. GAMMA Investing LLC now owns 3,948 shares of the financial services provider’s stock worth $706,000 after purchasing an additional 148 shares during the period. Exchange Traded Concepts LLC increased its stake in M&T Bank by 53.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 184 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in M&T Bank by 3.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,250 shares of the financial services provider’s stock worth $581,000 after buying an additional 118 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of M&T Bank by 4.8% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,832 shares of the financial services provider’s stock valued at $864,000 after buying an additional 220 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of M&T Bank by 4.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 22,629 shares of the financial services provider’s stock worth $4,045,000 after acquiring an additional 936 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of M&T Bank in a report on Wednesday, October 8th. UBS Group increased their target price on shares of M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Citigroup raised their target price on shares of M&T Bank from $200.00 to $212.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Evercore ISI boosted their price target on shares of M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Finally, DA Davidson raised their price objective on M&T Bank from $189.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Moderate Buy” and an average price target of $217.76.

M&T Bank Stock Performance

NYSE MTB opened at $181.69 on Wednesday. The firm has a market capitalization of $28.39 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 0.90 and a beta of 0.62. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average price is $194.56 and its two-hundred day moving average price is $186.60. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.The business had revenue of $1.54 billion during the quarter. As a group, research analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.3%. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, September 2nd. M&T Bank’s payout ratio is 36.95%.

Insiders Place Their Bets

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the sale, the director owned 17,866 shares of the company’s stock, valued at approximately $3,569,448.14. This trade represents a 45.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.

M&T Bank Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.