Resonant Capital Advisors LLC Increases Holdings in M&T Bank Co. (NYSE:MTB)

Resonant Capital Advisors LLC increased its holdings in M&T Bank Co. (NYSE:MTB) by 28.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,110 shares of the financial services provider’s stock after acquiring an additional 469 shares during the quarter. Resonant Capital Advisors LLC’s holdings in M&T Bank were worth $376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MTB. Fidelis Capital Partners LLC purchased a new stake in M&T Bank in the first quarter worth about $30,000. Hexagon Capital Partners LLC boosted its position in shares of M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares in the last quarter. Oakworth Capital Inc. purchased a new position in M&T Bank during the second quarter valued at $35,000. nVerses Capital LLC bought a new position in shares of M&T Bank in the 3rd quarter worth about $53,000. Finally, Versant Capital Management Inc lifted its position in M&T Bank by 82.7% during the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 201 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 transaction of $1,298,512.08. Following the completion of the transaction, the director now directly owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 stock was 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 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 ninety days, insiders sold 32,699 shares of company stock valued at $5,115,349. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Stock Down 0.7 %

MTB opened at $197.55 on Monday. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $200.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $32.96 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The firm’s fifty day moving average is $172.93 and its 200 day moving average is $158.92.

M&T Bank (NYSE:MTB) last posted 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 the consensus estimate of $2.27 billion. During the same period in the prior year, the company posted $5.12 EPS. On average, sell-side analysts forecast that M&T Bank Co. will post 14.16 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given 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 2.73%. M&T Bank’s dividend payout ratio is 36.51%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MTB. Jefferies Financial Group lifted their price target 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. The Goldman Sachs Group raised their price target on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research report on Friday. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday. Finally, Piper Sandler boosted their price target on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $196.18.

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.