M&T Bank Co. (NYSE:MTB) Stock Holdings Lowered by Stephens Inc. AR

Stephens Inc. AR reduced its holdings in M&T Bank Co. (NYSE:MTB) by 14.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,212 shares of the financial services provider’s stock after selling 200 shares during the quarter. Stephens Inc. AR’s holdings in M&T Bank were worth $216,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC raised its holdings in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in shares of M&T Bank during the second quarter valued at approximately $35,000. nVerses Capital LLC acquired a new stake in shares of M&T Bank during the third quarter valued at approximately $53,000. Versant Capital Management Inc raised its holdings in shares of 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 valued at $67,000 after acquiring an additional 201 shares during the period. Finally, Annapolis Financial Services LLC raised its holdings in shares of M&T Bank by 150.7% during the third quarter. Annapolis Financial Services LLC now owns 376 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 226 shares during the period. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

MTB stock opened at $209.46 on Friday. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $34.95 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 2.70 and a beta of 0.74. M&T Bank Co. has a 12 month low of $115.93 and a 12 month high of $216.84. The firm has a 50 day moving average of $182.71 and a two-hundred day moving average of $164.73.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 39.97%.

Insider Buying and Selling

In related news, CEO Rene F. Jones sold 23,071 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 68,438 shares of company stock valued at $12,622,007. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Royal Bank of Canada boosted their price target on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Wedbush upped their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Bank of America upped their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. upgraded shares of 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 note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, M&T Bank has an average rating of “Hold” and an average price target of $198.76.

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.