2,139 Shares in M&T Bank Co. (NYSE:MTB) Bought by Eastern Bank

Eastern Bank purchased a new stake in M&T Bank Co. (NYSE:MTB) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,139 shares of the financial services provider’s stock, valued at approximately $381,000.

Several other institutional investors have also recently made changes to their positions in MTB. Marshall Wace LLP increased its position in M&T Bank by 232.1% in the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after buying an additional 472,997 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in 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 acquiring an additional 319,051 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of M&T Bank by 6.1% during 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 acquiring an additional 93,113 shares in the last quarter. National Bank of Canada FI raised its position in shares of M&T Bank by 195.1% during the first quarter. National Bank of Canada FI now owns 126,773 shares of the financial services provider’s stock worth $19,480,000 after purchasing an additional 83,814 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of M&T Bank by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after purchasing an additional 81,004 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MTB. DA Davidson upped their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday. Bank of America upped their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research note on Friday, October 4th. Morgan Stanley increased their price objective on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus price target of $197.47.

Insider Activity

In related news, Director Kirk W. Walters sold 7,464 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now owns 15,045 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kirk W. Walters sold 7,464 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 15,045 shares in the company, valued at approximately $2,617,378.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,199 shares of company stock valued at $4,856,869 in the last three months. Company insiders own 0.82% of the company’s stock.

M&T Bank Trading Down 0.1 %

NYSE MTB opened at $193.85 on Thursday. The business’s fifty day moving average is $174.96 and its 200-day moving average is $159.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $32.34 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 3.27 and a beta of 0.75. M&T Bank Co. has a one year low of $108.53 and a one year high of $200.94.

M&T Bank Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s payout ratio is 36.51%.

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.