M&T Bank Co. (NYSE:MTB) Shares Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. boosted its holdings in M&T Bank Co. (NYSE:MTB) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,484 shares of the financial services provider’s stock after acquiring an additional 300 shares during the quarter. Everence Capital Management Inc.’s holdings in M&T Bank were worth $1,595,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MTB. Plato Investment Management Ltd increased its holdings in shares of M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC acquired a new position in M&T Bank during the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC raised its position in shares of 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 buying an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 158 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of M&T Bank in the third quarter valued at approximately $44,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

MTB opened at $191.54 on Friday. M&T Bank Co. has a 12-month low of $128.31 and a 12-month high of $225.70. 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 firm has a market capitalization of $31.78 billion, a P/E ratio of 14.18, a PEG ratio of 2.83 and a beta of 0.76. The stock has a fifty day moving average of $203.63 and a 200-day moving average of $180.02.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. Equities analysts forecast that M&T Bank Co. will post 14.63 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Monday, December 2nd. M&T Bank’s payout ratio is presently 39.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and upped their price objective for the company from $220.00 to $230.00 in a report on Monday, November 25th. Wedbush lifted their target price on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $223.50 target price (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $215.50.

Insider Buying and Selling at M&T Bank

In other news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $193.88, for a total value 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 23.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the transaction, the insider now directly owns 40,502 shares in the company, valued at $7,933,531.76. This trade represents a 15.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is currently 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.