Atria Investments Inc Sells 1,181 Shares of M&T Bank Co. (NYSE:MTB)

Atria Investments Inc decreased its position in shares of M&T Bank Co. (NYSE:MTB) by 15.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,344 shares of the financial services provider’s stock after selling 1,181 shares during the period. Atria Investments Inc’s holdings in M&T Bank were worth $1,130,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTB. Hexagon Capital Partners LLC raised its stake in 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. Oakworth Capital Inc. bought a new stake in M&T Bank during the 2nd quarter worth approximately $35,000. Capital Performance Advisors LLP bought a new stake in M&T Bank during the 3rd quarter worth approximately $44,000. nVerses Capital LLC bought a new stake in M&T Bank during the 3rd quarter worth approximately $53,000. Finally, Versant Capital Management Inc raised its stake 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 worth $67,000 after acquiring an additional 201 shares during the period. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 0.7 %

NYSE MTB opened at $214.74 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $187.11 and a two-hundred day moving average of $167.05. The firm has a market capitalization of $35.63 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 2.98 and a beta of 0.74. M&T Bank Co. has a 52 week low of $123.37 and a 52 week high of $216.84.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. On average, analysts predict that M&T Bank Co. will post 14.56 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.51%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is 39.97%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. DA Davidson lifted their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Bank of America lifted 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 report on Friday, October 18th. Finally, Wells Fargo & Company lifted their price objective on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday. 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, the stock has a consensus rating of “Hold” and a consensus target price of $199.65.

Insiders Place Their Bets

In other news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the completion of the sale, the insider now directly owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. The trade was a 15.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,854 shares of company stock valued at $13,637,588 over the last three months. 0.82% of the stock is owned by company insiders.

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.