M&T Bank Co. (NYSE:MTB) Shares Purchased by Caprock Group LLC

Caprock Group LLC raised its holdings in shares of M&T Bank Co. (NYSE:MTB) by 10.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,731 shares of the financial services provider’s stock after acquiring an additional 1,048 shares during the quarter. Caprock Group LLC’s holdings in M&T Bank were worth $1,911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pathstone Holdings LLC lifted its position in shares of M&T Bank by 0.7% during the third quarter. Pathstone Holdings LLC now owns 28,625 shares of the financial services provider’s stock worth $5,099,000 after purchasing an additional 185 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of M&T Bank by 33.3% during the third quarter. Thrivent Financial for Lutherans now owns 87,626 shares of the financial services provider’s stock worth $15,608,000 after purchasing an additional 21,881 shares in the last quarter. Mill Creek Capital Advisors LLC acquired a new position in shares of M&T Bank during the third quarter worth $224,000. Natixis Advisors LLC lifted its position in shares of M&T Bank by 10.3% during the third quarter. Natixis Advisors LLC now owns 195,879 shares of the financial services provider’s stock worth $34,890,000 after purchasing an additional 18,318 shares in the last quarter. Finally, Mizuho Securities USA LLC increased its stake in shares of M&T Bank by 182.0% in the third quarter. Mizuho Securities USA LLC now owns 36,273 shares of the financial services provider’s stock worth $6,461,000 after buying an additional 23,408 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Performance

MTB stock opened at $213.52 on Thursday. The company has a market capitalization of $35.43 billion, a P/E ratio of 15.80, a PEG ratio of 3.02 and a beta of 0.74. The company has a 50-day simple moving average of $189.91 and a 200 day simple moving average of $168.63. M&T Bank Co. has a fifty-two week low of $123.46 and a fifty-two week high of $216.84. 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 (NYSE:MTB) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. Sell-side analysts predict that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, December 2nd. M&T Bank’s payout ratio is 39.97%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTB. Wedbush lifted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Friday, October 4th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their target price on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. 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 company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $199.65.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the sale, the insider now owns 40,502 shares in the company, valued at approximately $7,933,531.76. The trade was a 15.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 owns 44,902 shares in the company, valued at approximately $7,724,491.06. The trade was a 18.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 70,383 shares of company stock valued at $13,576,801. 0.82% of the stock is owned by insiders.

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.