OneDigital Investment Advisors LLC Reduces Stock Position in M&T Bank Co. (NYSE:MTB)

OneDigital Investment Advisors LLC decreased its holdings in M&T Bank Co. (NYSE:MTB) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,033 shares of the financial services provider’s stock after selling 133 shares during the period. OneDigital Investment Advisors LLC’s holdings in M&T Bank were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Plato Investment Management Ltd increased its stake in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after buying an additional 161 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of M&T Bank during the third quarter worth approximately $32,000. Hexagon Capital Partners LLC raised its stake 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 acquiring an additional 68 shares in the last quarter. Oakworth Capital Inc. purchased a new stake in shares of M&T Bank in the second quarter valued at approximately $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on MTB. Barclays lifted their target price on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upgraded 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 report on Tuesday, September 3rd. Evercore ISI increased their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wedbush boosted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group increased their price objective on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and an average price target of $199.65.

M&T Bank Trading Down 0.5 %

M&T Bank stock opened at $213.71 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $35.46 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 3.02 and a beta of 0.74. The stock has a 50-day moving average of $188.96 and a two-hundred day moving average of $168.32. M&T Bank Co. has a one year low of $123.46 and a one year high of $216.84.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. On average, research analysts anticipate that M&T Bank Co. will post 14.56 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.53%. M&T Bank’s payout ratio is 39.97%.

Insider Activity at M&T Bank

In related news, EVP Michael J. Todaro sold 4,786 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $214.10, for a total value of $1,024,682.60. Following the transaction, the executive vice president now owns 2,787 shares in the company, valued at approximately $596,696.70. This represents a 63.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction that occurred 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 sale, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The trade was a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,383 shares of company stock valued at $13,576,801 in the last ninety days. Company insiders own 0.82% of the company’s stock.

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.