O Keefe Stevens Advisory Inc. Boosts Stock Position in M&T Bank Co. (NYSE:MTB)

O Keefe Stevens Advisory Inc. increased its stake in shares of M&T Bank Co. (NYSE:MTB) by 2.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,913 shares of the financial services provider’s stock after buying an additional 913 shares during the quarter. M&T Bank comprises 2.3% of O Keefe Stevens Advisory Inc.’s holdings, making the stock its 18th largest position. O Keefe Stevens Advisory Inc.’s holdings in M&T Bank were worth $7,644,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ossiam boosted its position in shares of M&T Bank by 92.7% during the 4th quarter. Ossiam now owns 10,290 shares of the financial services provider’s stock valued at $1,411,000 after acquiring an additional 4,950 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in M&T Bank by 4.4% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 14,488 shares of the financial services provider’s stock valued at $1,986,000 after purchasing an additional 605 shares during the last quarter. XML Financial LLC grew its stake in shares of M&T Bank by 20.0% in the 4th quarter. XML Financial LLC now owns 3,864 shares of the financial services provider’s stock valued at $530,000 after buying an additional 643 shares during the period. RMB Capital Management LLC increased its holdings in shares of M&T Bank by 8.6% during the 4th quarter. RMB Capital Management LLC now owns 43,748 shares of the financial services provider’s stock worth $5,997,000 after buying an additional 3,449 shares during the last quarter. Finally, Novak & Powell Financial Services Inc. purchased a new stake in shares of M&T Bank during the 4th quarter valued at approximately $221,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Evercore ISI upgraded M&T Bank from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $187.00 to $210.00 in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $183.00 to $215.00 in a report on Tuesday, September 3rd. Wells Fargo & Company lowered shares of M&T Bank from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $170.00 to $165.00 in a report on Thursday, August 15th. Keefe, Bruyette & Woods increased their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Finally, StockNews.com downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $185.75.

M&T Bank Stock Performance

Shares of MTB stock opened at $177.52 on Wednesday. The firm has a 50 day moving average of $168.96 and a two-hundred day moving average of $156.14. The stock has a market capitalization of $29.62 billion, a PE ratio of 12.00, a P/E/G ratio of 3.55 and a beta of 0.75. 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 Co. has a 52 week low of $108.53 and a 52 week high of $180.63.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the business posted $5.12 earnings per share. On average, research analysts predict that M&T Bank Co. will post 14.23 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced 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. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.04%. M&T Bank’s payout ratio is 36.51%.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the sale, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the completion of the sale, the director now owns 15,045 shares in the company, valued at $2,617,378.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock valued at $5,115,349 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

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.