Fulton Bank N.A. Has $689,000 Stock Position in M&T Bank Co. (NYSE:MTB)

Fulton Bank N.A. raised its holdings in M&T Bank Co. (NYSE:MTB) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,667 shares of the financial services provider’s stock after buying an additional 225 shares during the quarter. Fulton Bank N.A.’s holdings in M&T Bank were worth $689,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MTB. Hedeker Wealth LLC boosted its stake in M&T Bank by 1.6% during the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after acquiring an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC grew its stake in shares of M&T Bank by 1.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock valued at $1,005,000 after buying an additional 57 shares during the period. Crestwood Advisors Group LLC increased its position in M&T Bank by 1.9% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after buying an additional 57 shares in the last quarter. Hexagon Capital Partners LLC raised 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 worth $34,000 after buying an additional 68 shares during the period. Finally, Meitav Investment House Ltd. boosted its holdings in M&T Bank by 3.1% in the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In related news, CEO Rene F. Jones sold 23,071 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the sale, the chief executive officer now directly owns 77,226 shares in the company, valued at approximately $14,972,576.88. This represents a 23.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, October 22nd. The shares were 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. This represents a 28.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,994 shares of company stock valued at $17,211,278 over the last three months. 0.82% of the stock is currently owned by insiders.

M&T Bank Stock Down 0.5 %

M&T Bank stock opened at $191.06 on Friday. The firm has a 50 day moving average price of $203.25 and a 200-day moving average price of $181.58. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70. The company has a market capitalization of $31.70 billion, a P/E ratio of 14.14, a P/E/G ratio of 2.79 and a beta of 0.79.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. As a group, equities analysts predict that M&T Bank Co. will post 14.63 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.83%. The ex-dividend date was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wedbush upped their target price on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Compass Point upped their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wells Fargo & Company boosted their target price on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and raised their price target for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Finally, Truist Financial assumed coverage on M&T Bank in a report on Tuesday. They set a “buy” rating and a $233.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $216.86.

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.