Ashton Thomas Securities LLC Buys New Shares in M&T Bank Co. (NYSE:MTB)

Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank Co. (NYSE:MTB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 180 shares of the financial services provider’s stock, valued at approximately $32,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board grew its stake in shares of M&T Bank by 43.1% in the first quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock valued at $1,807,000 after buying an additional 3,739 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of M&T Bank during the 3rd quarter worth about $44,000. Principal Financial Group Inc. increased its stake in shares of M&T Bank by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock worth $35,466,000 after purchasing an additional 2,797 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in M&T Bank by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after purchasing an additional 18,566 shares during the last quarter. Finally, Gateway Investment Advisers LLC grew its holdings in M&T Bank by 60.0% during the second quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock worth $4,964,000 after purchasing an additional 12,304 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MTB shares. The Goldman Sachs Group raised their price objective on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. DA Davidson raised their price target on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Wells Fargo & Company upped their price objective on shares of M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a report on Friday, October 18th. Barclays raised their target price on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada upped their price target 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $198.76.

Insider Buying and Selling at M&T Bank

In related news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The trade was a 10.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Rene F. Jones sold 23,071 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the transaction, the chief executive officer now owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,854 shares of company stock valued at $13,637,588. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Stock Up 0.6 %

Shares of NYSE MTB opened at $213.27 on Friday. The stock has a market capitalization of $35.39 billion, a P/E ratio of 15.79, a PEG ratio of 3.00 and a beta of 0.74. The stock’s fifty day moving average is $185.26 and its 200 day moving average is $166.25. M&T Bank Co. has a 52 week low of $123.37 and a 52 week high of $216.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. Sell-side analysts forecast that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s payout ratio is presently 39.97%.

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.