IFM Investors Pty Ltd Cuts Stock Position in M&T Bank Co. (NYSE:MTB)

IFM Investors Pty Ltd lowered its position in M&T Bank Co. (NYSE:MTB) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,578 shares of the financial services provider’s stock after selling 811 shares during the period. IFM Investors Pty Ltd’s holdings in M&T Bank were worth $5,625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in M&T Bank in the 1st quarter worth approximately $30,000. Hexagon Capital Partners LLC lifted its stake in 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 valued at $34,000 after acquiring an additional 68 shares during the period. Oakworth Capital Inc. acquired a new stake in M&T Bank during the 2nd quarter valued at approximately $35,000. nVerses Capital LLC acquired a new stake in M&T Bank during the 3rd quarter valued at approximately $53,000. Finally, Versant Capital Management Inc lifted its stake in M&T Bank by 82.7% during the 2nd quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 201 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on MTB shares. Piper Sandler lifted their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Royal Bank of Canada boosted their target price on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Finally, Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $187.00 to $210.00 in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $197.47.

Insider Transactions at M&T Bank

In other news, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the transaction, the director now owns 49,960 shares of the company’s stock, valued at $9,690,741.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the sale, the director now owns 49,960 shares in the company, valued at approximately $9,690,741.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated 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 of the company’s stock, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,735 shares of company stock valued at $7,437,757 in the last 90 days. 0.82% of the stock is currently owned by insiders.

M&T Bank Price Performance

M&T Bank stock opened at $192.57 on Friday. M&T Bank Co. has a one year low of $108.53 and a one year high of $200.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The business has a fifty day moving average of $175.61 and a two-hundred day moving average of $160.18. The company has a market cap of $32.13 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

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.