SG Americas Securities LLC Purchases 80,061 Shares of M&T Bank Co. (NYSE:MTB)

SG Americas Securities LLC raised its position in shares of M&T Bank Co. (NYSE:MTB) by 394.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 100,349 shares of the financial services provider’s stock after acquiring an additional 80,061 shares during the quarter. SG Americas Securities LLC’s holdings in M&T Bank were worth $17,874,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Ontario Teachers Pension Plan Board boosted its position in M&T Bank by 43.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock valued at $1,807,000 after acquiring an additional 3,739 shares in the last quarter. Leuthold Group LLC bought a new stake in M&T Bank during the 1st quarter valued at approximately $3,125,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of M&T Bank by 7.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock valued at $72,357,000 after purchasing an additional 35,692 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of M&T Bank by 5.9% during the first 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, Sierra Summit Advisors LLC purchased a new position in shares of M&T Bank during the fourth quarter valued at approximately $6,438,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Performance

Shares of MTB stock traded up $6.40 during mid-day trading on Friday, reaching $178.74. 1,105,237 shares of the company’s stock traded hands, compared to its average volume of 1,023,173. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $180.63. The firm has a 50 day moving average price of $168.84 and a two-hundred day moving average price of $155.72. 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 firm has a market capitalization of $29.82 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter in the prior year, the firm posted $5.12 EPS. On average, research analysts forecast that M&T Bank Co. will post 14.23 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.02%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is currently 36.51%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MTB shares. Bank of America lifted their target price on shares of M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Wolfe Research upgraded 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 report on Friday. Wells Fargo & Company lowered shares of M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $170.00 to $165.00 in a report on Thursday, August 15th. Citigroup boosted their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Wedbush boosted their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $185.75.

Insiders Place Their Bets

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at $7,724,491.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at $7,724,491.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kirk W. Walters sold 2,471 shares of the company’s stock in a transaction dated 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 owns 20,414 shares in the company, valued at $502,184.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock worth $5,115,349 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

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.