Court Place Advisors LLC lifted its position in shares of M&T Bank Co. (NYSE:MTB – Free Report) by 67.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,914 shares of the financial services provider’s stock after purchasing an additional 1,170 shares during the period. Court Place Advisors LLC’s holdings in M&T Bank were worth $400,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of MTB. Clear Street Markets LLC acquired a new stake in M&T Bank during the 4th quarter worth $25,000. RVW Wealth LLC acquired a new stake in M&T Bank during the 3rd quarter worth $27,000. Quarry LP acquired a new stake in M&T Bank during the 1st quarter worth $27,000. Sunbelt Securities Inc. acquired a new stake in M&T Bank during the 1st quarter worth $27,000. Finally, Headinvest LLC acquired a new stake in M&T Bank during the 3rd quarter worth $29,000. 84.68% of the stock is owned by hedge funds and other institutional investors.
M&T Bank Price Performance
MTB stock traded up $1.65 during trading on Wednesday, reaching $139.04. 1,169,634 shares of the company were exchanged, compared to its average volume of 1,216,571. The company has a market cap of $23.17 billion, a P/E ratio of 9.29, a PEG ratio of 1.30 and a beta of 0.80. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $148.23. The stock’s 50 day moving average price is $139.44 and its 200 day moving average price is $132.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94.
M&T Bank Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.
Analysts Set New Price Targets
Several equities research analysts recently commented on MTB shares. Evercore ISI lifted their price target on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Royal Bank of Canada restated an “outperform” rating and issued a $160.00 price objective on shares of M&T Bank in a research note on Tuesday. Piper Sandler dropped their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, January 19th. Keefe, Bruyette & Woods lifted their price objective on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, UBS Group lifted their price objective on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $157.98.
Read Our Latest Stock Report on M&T Bank
Insider Buying and Selling at M&T Bank
In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $143.60, for a total transaction of $568,799.60. Following the completion of the transaction, the executive vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $718,000. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock valued at $5,114,624 over the last quarter. Corporate insiders own 0.82% of the company’s stock.
About M&T Bank
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.
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