M&T Bank Co. (NYSE:MTB) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in M&T Bank Co. (NYSE:MTB) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 199,111 shares of the financial services provider’s stock after purchasing an additional 2,797 shares during the period. Principal Financial Group Inc. owned about 0.12% of M&T Bank worth $35,466,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MTB. Hexagon Capital Partners LLC lifted its position in shares of 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 last quarter. Oakworth Capital Inc. acquired a new position in M&T Bank in the second quarter valued at $35,000. nVerses Capital LLC acquired a new stake in shares of M&T Bank during the third quarter worth about $53,000. Catalyst Capital Advisors LLC purchased a new stake in shares of M&T Bank in the 3rd quarter valued at about $67,000. Finally, Annapolis Financial Services LLC boosted its position in shares of M&T Bank by 150.7% in the 3rd quarter. Annapolis Financial Services LLC now owns 376 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 226 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTB has been the subject of several analyst reports. Barclays lifted their target price on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. The Goldman Sachs Group boosted their target price on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company raised their price target on M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a report on Friday, October 18th. Evercore ISI upped their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $198.76.

M&T Bank Stock Up 2.5 %

MTB stock opened at $214.64 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a market cap of $35.61 billion, a PE ratio of 15.89, a PEG ratio of 2.97 and a beta of 0.74. The company has a fifty day simple moving average of $182.71 and a 200 day simple moving average of $164.98. M&T Bank Co. has a 1 year low of $116.07 and a 1 year high of $216.84.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. Sell-side analysts anticipate that M&T Bank Co. will post 14.56 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is 39.97%.

Insider Buying and Selling at M&T Bank

In related news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Denis J. Salamone sold 10,000 shares of the company’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 transaction of $1,720,300.00. Following the transaction, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the transaction, the insider now directly owns 40,502 shares in the company, valued at approximately $7,933,531.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,088 shares of company stock worth $12,613,397 over the last three months. Company insiders own 0.82% of the company’s stock.

About M&T Bank

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.