Delta Investment Management LLC Has $860,000 Stock Holdings in M&T Bank Co. (NYSE:MTB)

Delta Investment Management LLC reduced its stake in shares of M&T Bank Co. (NYSE:MTB) by 59.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 5,684 shares of the financial services provider’s stock after selling 8,468 shares during the period. Delta Investment Management LLC’s holdings in M&T Bank were worth $860,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Marshall Wace LLP grew its holdings in shares of M&T Bank by 232.1% during the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after buying an additional 472,997 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after purchasing an additional 319,051 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of M&T Bank by 1,155.9% in the fourth quarter. Bank of Nova Scotia now owns 205,392 shares of the financial services provider’s stock worth $28,154,000 after purchasing an additional 189,038 shares in the last quarter. Vest Financial LLC bought a new stake in shares of M&T Bank in the first quarter worth $18,147,000. Finally, Rafferty Asset Management LLC boosted its holdings in M&T Bank by 72.1% during the fourth quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock worth $32,890,000 after purchasing an additional 100,526 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the topic of several analyst reports. Citigroup boosted their price target on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Bank of America increased their price target on M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Piper Sandler increased their price objective on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group boosted their target price on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $178.35.

M&T Bank Trading Down 1.2 %

Shares of MTB stock opened at $172.66 on Thursday. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $180.63. The company has a market capitalization of $28.81 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 3.55 and a beta of 0.76. The firm has a 50 day moving average price of $168.09 and a two-hundred day moving average price of $154.06. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period last year, the firm posted $5.12 EPS. As a group, analysts predict that M&T Bank Co. will post 14.23 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.13%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Buying and Selling

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction that occurred 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 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. Over the last three months, insiders have sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is owned by company insiders.

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.