M&T Bank Co. (NYSE:MTB) Shares Purchased by Argent Trust Co

Argent Trust Co boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 9.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,506 shares of the financial services provider’s stock after acquiring an additional 128 shares during the period. Argent Trust Co’s holdings in M&T Bank were worth $228,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of M&T Bank by 4.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after acquiring an additional 81,004 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after purchasing an additional 93,113 shares during the period. Bank of New York Mellon Corp increased its position in shares of M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after buying an additional 44,442 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of M&T Bank by 77.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after buying an additional 319,051 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of M&T Bank by 8.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 546,751 shares of the financial services provider’s stock valued at $74,949,000 after buying an additional 41,523 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insiders Place Their Bets

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the transaction, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the sale, the director now owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock valued at $5,115,349 over the last quarter. 0.82% of the stock is owned by insiders.

M&T Bank Stock Down 0.2 %

NYSE MTB opened at $179.56 on Friday. The business’s fifty day simple moving average is $167.47 and its 200-day simple moving average is $153.44. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a market cap of $29.96 billion, a PE ratio of 12.14, a P/E/G ratio of 3.32 and a beta of 0.76. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $180.25.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm earned $5.12 earnings per share. As a group, equities analysts anticipate that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 3.01%. M&T Bank’s payout ratio is 36.51%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MTB. Jefferies Financial Group upped their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Bank of America upped their price target on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company lowered M&T Bank from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $170.00 to $165.00 in a research note on Thursday, August 15th. Piper Sandler raised their target price on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $175.85.

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.