Janney Montgomery Scott LLC Increases Stake in M&T Bank Co. (NYSE:MTB)

Janney Montgomery Scott LLC grew its stake in M&T Bank Co. (NYSE:MTB) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,438 shares of the financial services provider’s stock after purchasing an additional 359 shares during the period. Janney Montgomery Scott LLC’s holdings in M&T Bank were worth $13,793,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MTB. Massachusetts Financial Services Co. MA increased its holdings in M&T Bank by 4.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after buying an additional 81,004 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after buying an additional 93,113 shares in the last quarter. Bank of New York Mellon Corp grew its stake in M&T Bank by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after acquiring an additional 44,442 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in M&T Bank by 3.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock worth $211,631,000 after acquiring an additional 43,795 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after acquiring an additional 319,051 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now directly owns 20,414 shares in the company, valued at $502,184.40. 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 available at the SEC website. In other M&T Bank news, Director Robert E. Sadler, Jr. sold 2,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total transaction of $396,000.00. Following the sale, the director now owns 29,796 shares in the company, valued at $5,899,608. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now owns 20,414 shares of the company’s stock, valued at $502,184.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,734 shares of company stock worth $14,055,727 in the last three months. 0.82% of the stock is owned by company insiders.

M&T Bank Stock Up 12.1 %

M&T Bank stock opened at $216.56 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. The firm has a 50 day moving average price of $181.20 and a 200 day moving average price of $163.98. M&T Bank Co. has a fifty-two week low of $115.93 and a fifty-two week high of $216.84. The company has a market capitalization of $36.13 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.72 and a beta of 0.74.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s payout ratio is 39.97%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Citigroup boosted their target price on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and increased their target price for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Barclays lifted their price target on M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research note on Friday, October 4th. Finally, Wedbush boosted 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 report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $198.76.

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.