Procyon Advisors LLC Purchases 74 Shares of M&T Bank Co. (NYSE:MTB)

Procyon Advisors LLC boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,544 shares of the financial services provider’s stock after acquiring an additional 74 shares during the quarter. Procyon Advisors LLC’s holdings in M&T Bank were worth $809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP increased its holdings in shares of M&T Bank by 232.1% in the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after purchasing an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after purchasing an additional 319,051 shares during the last quarter. Vest Financial LLC acquired a new position in shares of M&T Bank in the first quarter valued at $18,147,000. Dimensional Fund Advisors LP increased its holdings in shares of M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after purchasing an additional 93,113 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of M&T Bank by 195.1% in the first quarter. National Bank of Canada FI now owns 126,773 shares of the financial services provider’s stock valued at $19,480,000 after purchasing an additional 83,814 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods upped their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Citigroup upped their price target on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and upped their price target for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Finally, Wedbush upped their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $185.75.

Insider Transactions at M&T Bank

In other news, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the transaction, the director now owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 44,902 shares in the company, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the completion of the transaction, the director now owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is currently owned by insiders.

M&T Bank Trading Up 0.2 %

MTB opened at $185.94 on Wednesday. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $190.23. The company has a 50-day simple moving average of $170.90 and a 200 day simple moving average of $157.77. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $31.02 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 3.27 and a beta of 0.75.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data 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 business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations 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 business posted $5.12 earnings per share. Analysts predict that M&T Bank Co. will post 14.16 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.90%. M&T Bank’s dividend payout ratio (DPR) is currently 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.