Versant Capital Management Inc Has $103,000 Stake in M&T Bank Co. (NYSE:MTB)

Versant Capital Management Inc boosted its holdings in M&T Bank Co. (NYSE:MTB) by 22.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 548 shares of the financial services provider’s stock after purchasing an additional 101 shares during the quarter. Versant Capital Management Inc’s holdings in M&T Bank were worth $103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTB. Plato Investment Management Ltd increased its position in shares of M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in M&T Bank during the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC increased its holdings in 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 purchasing an additional 68 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of M&T Bank in the third quarter valued at approximately $44,000. Institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

MTB has been the subject of several recent research reports. Wells Fargo & Company upped their price target on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a report on Friday, November 15th. Bank of America increased their target price on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price target (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Wedbush increased their price objective 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. Finally, Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $215.50.

Insider Activity

In other M&T Bank news, EVP John R. Taylor sold 1,436 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $195.03, for a total value of $280,063.08. Following the sale, the executive vice president now directly owns 5,618 shares in the company, valued at $1,095,678.54. This represents a 20.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John P. Barnes sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the transaction, the director now owns 49,960 shares of the company’s stock, valued at $9,690,741.20. This trade represents a 28.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is owned by corporate insiders.

M&T Bank Trading Up 1.5 %

Shares of MTB opened at $191.54 on Friday. The firm has a market cap of $31.78 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 2.83 and a beta of 0.79. M&T Bank Co. has a fifty-two week low of $128.31 and a fifty-two week high of $225.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The business has a 50-day moving average of $203.61 and a 200 day moving average of $180.34.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. As a group, research analysts forecast that M&T Bank Co. will post 14.63 EPS for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Monday, December 2nd. M&T Bank’s payout ratio is currently 39.97%.

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.