UMB Bank n.a. Buys 118 Shares of M&T Bank Co. (NYSE:MTB)

UMB Bank n.a. increased its stake in shares of M&T Bank Co. (NYSE:MTB) by 25.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 589 shares of the financial services provider’s stock after acquiring an additional 118 shares during the period. UMB Bank n.a.’s holdings in M&T Bank were worth $105,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its stake in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares during the period. Meeder Advisory Services Inc. boosted its position in M&T Bank by 3.9% during the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 70 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in shares of M&T Bank by 1.5% in the second 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 during the last quarter. Umpqua Bank raised its position in shares of M&T Bank by 5.3% in the second 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 during the period. Finally, Fulton Bank N.A. lifted its stake in shares of 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 worth $526,000 after buying an additional 81 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Price Performance

Shares of NYSE MTB opened at $185.19 on Monday. The company has a market capitalization of $30.90 billion, a PE ratio of 12.52, a P/E/G ratio of 3.27 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 twelve month low of $108.53 and a twelve month high of $185.98. The firm has a fifty day simple moving average of $169.88 and a 200 day simple moving average of $157.20.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS 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 quarter last year, the firm posted $5.12 earnings per share. On average, sell-side analysts forecast that M&T Bank Co. will post 14.16 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.92%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MTB shares. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Wells Fargo & Company cut shares of M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $170.00 to $165.00 in a research note on Thursday, August 15th. Evercore ISI raised shares of M&T Bank from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $187.00 to $210.00 in a report on Wednesday, October 2nd. Morgan Stanley raised their price objective on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Piper Sandler upped their target price on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $185.75.

Insider Activity

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the sale, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares in the company, 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. Over the last 90 days, insiders have sold 32,699 shares of company stock worth $5,115,349. Company insiders own 0.82% of the company’s stock.

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.