Pacer Advisors Inc. Buys 525 Shares of M&T Bank Co. (NYSE:MTB)

Pacer Advisors Inc. raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,882 shares of the financial services provider’s stock after purchasing an additional 525 shares during the quarter. Pacer Advisors Inc.’s holdings in M&T Bank were worth $1,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of MTB. General Partner Inc. purchased a new position in shares of M&T Bank during the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC bought a new position in M&T Bank during the first quarter valued at approximately $30,000. Oakworth Capital Inc. bought a new stake in shares of M&T Bank in the 2nd quarter worth approximately $35,000. Versant Capital Management Inc lifted its holdings in shares of M&T Bank by 82.7% in 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 last quarter. Finally, Bank & Trust Co purchased a new stake in shares of M&T Bank in the 2nd quarter valued at $70,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction dated 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 owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now owns 31,796 shares in the company, valued at $5,476,225.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Denis J. Salamone sold 10,000 shares of the 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 completion of the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. 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 three months. 0.82% of the stock is owned by corporate insiders.

M&T Bank Price Performance

MTB stock opened at $175.27 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $180.63. The firm has a 50-day moving average of $168.25 and a 200 day moving average of $154.19. The company has a market cap of $29.24 billion, a P/E ratio of 11.85, a PEG ratio of 3.55 and a beta of 0.76.

M&T Bank (NYSE:MTB) last announced its 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 return on equity of 9.62% and a net margin of 17.84%. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the company earned $5.12 EPS. On average, sell-side analysts forecast that M&T Bank Co. will post 14.23 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 36.51%.

Wall Street Analysts Forecast Growth

MTB has been the subject of several recent research reports. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Wedbush boosted their target price on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday. Bank of America raised their price target on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Evercore ISI boosted their price objective on M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada increased their price objective on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $178.35.

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.