EverSource Wealth Advisors LLC Has $166,000 Stock Holdings in M&T Bank Co. (NYSE:MTB)

EverSource Wealth Advisors LLC trimmed its position in M&T Bank Co. (NYSE:MTB) by 11.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,097 shares of the financial services provider’s stock after selling 146 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in M&T Bank were worth $166,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in M&T Bank by 4.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after buying an additional 81,004 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after acquiring an additional 93,113 shares during the last quarter. Bank of New York Mellon Corp raised its stake in M&T Bank by 3.0% in the 2nd 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 acquiring an additional 44,442 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in M&T Bank by 3.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after purchasing an additional 43,795 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after purchasing an additional 319,051 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the transaction, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 sale, the director now directly owns 31,796 shares in the company, valued at $5,476,225.08. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock worth $5,115,349 in the last ninety days. 0.82% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MTB shares. Royal Bank of Canada raised their target price on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. DA Davidson raised their price objective on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Morgan Stanley upped their target price on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Evercore ISI upped their price objective on M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $178.35.

M&T Bank Trading Down 1.2 %

Shares of M&T Bank stock opened at $172.66 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $180.63. The company has a market capitalization of $28.81 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 3.55 and a beta of 0.76. The firm’s 50-day moving average price is $168.09 and its two-hundred day moving average price is $154.06.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter last year, the business posted $5.12 EPS. On average, analysts forecast that M&T Bank Co. will post 14.23 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $1.35 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.13%. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

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.