National Pension Service Purchases 13,302 Shares of M&T Bank Co. (NYSE:MTB)

National Pension Service raised its position in M&T Bank Co. (NYSE:MTB) by 5.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 268,138 shares of the financial services provider’s stock after acquiring an additional 13,302 shares during the period. National Pension Service owned about 0.16% of M&T Bank worth $47,761,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC bought a new position in shares of M&T Bank in the 1st quarter valued at about $30,000. Hexagon Capital Partners LLC grew its stake in M&T Bank by 54.4% in 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. bought a new position in M&T Bank in the second quarter valued at approximately $35,000. nVerses Capital LLC acquired a new position in shares of M&T Bank during the 3rd quarter worth approximately $53,000. Finally, Versant Capital Management Inc raised its stake in shares of 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 worth $67,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Barclays boosted their price objective on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Wedbush lifted their price target on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Piper Sandler upped their price objective on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Finally, Evercore ISI lifted their target price on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $198.76.

Insider Activity

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 2,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total transaction of $396,000.00. Following the transaction, the director now owns 29,796 shares in the company, valued at $5,899,608. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robert E. Sadler, Jr. sold 2,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total transaction of $396,000.00. Following the completion of the sale, the director now owns 29,796 shares of the company’s stock, valued at $5,899,608. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at approximately $14,972,576.88. This 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 77,734 shares of company stock worth $14,055,727. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Trading Up 12.1 %

MTB stock opened at $216.56 on Thursday. M&T Bank Co. has a 52 week low of $115.93 and a 52 week high of $216.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. The company’s 50-day simple moving average is $181.20 and its 200 day simple moving average is $163.98. The company has a market capitalization of $36.13 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.72 and a beta of 0.74.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.49%. M&T Bank’s dividend payout ratio is presently 39.97%.

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.