M&T Bank Co. (NYSE:MTB) Shares Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC raised its holdings in shares of M&T Bank Co. (NYSE:MTB) by 31.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,530 shares of the financial services provider’s stock after purchasing an additional 2,766 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in M&T Bank were worth $1,706,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Meeder Advisory Services Inc. grew its stake in M&T Bank by 3.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 70 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in M&T Bank by 1.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 70 shares in the last quarter. Umpqua Bank grew its stake in M&T Bank by 5.3% during the 2nd quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 73 shares in the last quarter. Fulton Bank N.A. grew its stake in M&T Bank by 2.3% during the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 81 shares in the last quarter. Finally, Tritonpoint Wealth LLC grew its position in shares of M&T Bank by 2.3% in the 1st quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after acquiring an additional 87 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the sale, the director now owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the sale, the director now owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the sale, the director now directly owns 15,045 shares in the company, valued at approximately $2,617,378.65. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock valued at $5,115,349 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Stock Down 0.2 %

Shares of M&T Bank stock opened at $179.56 on Friday. The business’s fifty day moving average price is $167.47 and its two-hundred day moving average price is $153.51. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $29.96 billion, a P/E ratio of 12.14, a PEG ratio of 3.32 and a beta of 0.76. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $180.25.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the previous year, the business earned $5.12 EPS. As a group, research analysts forecast that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Tuesday, September 3rd. M&T Bank’s payout ratio is currently 36.51%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MTB. Keefe, Bruyette & Woods lifted their target price on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Jefferies Financial Group lifted their target price on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. DA Davidson lifted their target price on M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Finally, Bank of America lifted their target price on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank has an average rating of “Hold” and an average target price of $175.85.

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.