Mackenzie Financial Corp Buys 203 Shares of M&T Bank Co. (NYSE:MTB)

Mackenzie Financial Corp lifted its position in M&T Bank Co. (NYSE:MTB) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 19,399 shares of the financial services provider’s stock after acquiring an additional 203 shares during the quarter. Mackenzie Financial Corp’s holdings in M&T Bank were worth $2,936,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. General Partner Inc. purchased a new stake in M&T Bank in the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC bought a new position in shares of M&T Bank in the first quarter valued at approximately $30,000. Oakworth Capital Inc. purchased a new stake in shares of M&T Bank during the second quarter valued at approximately $35,000. Versant Capital Management Inc lifted its holdings in M&T Bank by 82.7% during the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 201 shares during the period. Finally, Bank & Trust Co purchased a new position in M&T Bank in the second quarter worth $70,000. 84.68% of the stock is owned by institutional investors.

Insider Buying and Selling

In other M&T Bank news, Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction dated 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 owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Kirk W. Walters sold 7,464 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now directly owns 15,045 shares in the company, valued at $2,617,378.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares in the company, valued at $502,184.40. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock worth $5,115,349 over the last ninety days. 0.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MTB. 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 note on Monday, July 22nd. Jefferies Financial Group raised their price target on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Evercore ISI raised M&T Bank from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $187.00 to $210.00 in a report on Wednesday. DA Davidson raised 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. Finally, Citigroup increased their price target on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $184.13.

M&T Bank Trading Up 0.3 %

Shares of M&T Bank stock opened at $173.20 on Thursday. The company’s 50-day moving average price is $168.79 and its 200-day moving average price is $155.34. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. 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 cap of $28.90 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 3.55 and a beta of 0.76.

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

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is 36.51%.

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.