Farther Finance Advisors LLC Increases Position in M&T Bank Co. (NYSE:MTB)

Farther Finance Advisors LLC raised its holdings in M&T Bank Co. (NYSE:MTB) by 23.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,653 shares of the financial services provider’s stock after acquiring an additional 509 shares during the period. Farther Finance Advisors LLC’s holdings in M&T Bank were worth $473,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Marshall Wace LLP lifted its position in M&T Bank by 232.1% during the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after buying an additional 472,997 shares during the period. Los Angeles Capital Management LLC raised its stake 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. Canoe Financial LP boosted its holdings in shares of M&T Bank by 29.4% in the 3rd quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock valued at $103,200,000 after purchasing an additional 133,748 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of M&T Bank by 17,784.1% during the 3rd quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock valued at $19,623,000 after buying an additional 109,550 shares during the period. Finally, 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 buying an additional 93,113 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MTB shares. The Goldman Sachs Group lifted their target price on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Piper Sandler increased their target price on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Friday, October 4th. Finally, Bank of America lifted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $198.76.

Insider Buying and Selling at M&T Bank

In other news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $162.28, for a total value of $989,096.60. Following the completion of the sale, the insider now owns 47,944 shares of the company’s stock, valued at approximately $7,780,352.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, Director Robert E. Sadler, Jr. sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total transaction of $396,000.00. Following the transaction, the director now owns 29,796 shares of the company’s stock, valued at $5,899,608. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Kevin J. Pearson sold 6,095 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.28, for a total value of $989,096.60. Following the completion of the sale, the insider now owns 47,944 shares of the company’s stock, valued at $7,780,352.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,734 shares of company stock worth $14,055,727 in the last ninety days. 0.82% of the stock is owned by insiders.

M&T Bank Price Performance

Shares of NYSE MTB opened at $216.56 on Thursday. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a fifty-two week low of $115.93 and a fifty-two week high of $216.84. The business has a 50 day moving average price of $181.20 and a two-hundred day moving average price of $163.98. The firm has a market cap of $36.13 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.72 and a beta of 0.74.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.49%. M&T Bank’s dividend payout ratio is presently 39.97%.

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.