Oak Thistle LLC Takes $692,000 Position in M&T Bank Co. (NYSE:MTB)

Oak Thistle LLC bought a new stake in M&T Bank Co. (NYSE:MTBFree Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,049 shares of the financial services provider’s stock, valued at approximately $692,000.

Other institutional investors also recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in M&T Bank during the third quarter valued at $833,000. Tokio Marine Asset Management Co. Ltd. grew its holdings in M&T Bank by 8.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 305 shares during the period. NBC Securities Inc. bought a new position in M&T Bank during the third quarter valued at $299,000. Metis Global Partners LLC grew its holdings in M&T Bank by 15.2% during the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 931 shares during the period. Finally, AustralianSuper Pty Ltd grew its holdings in M&T Bank by 20.6% during the fourth quarter. AustralianSuper Pty Ltd now owns 340,661 shares of the financial services provider’s stock valued at $46,698,000 after purchasing an additional 58,130 shares during the period. 84.68% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the transaction, the director now owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley increased their price objective on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a report on Wednesday, March 6th. Piper Sandler cut their price target on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. Barclays raised their price target on M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, UBS Group raised their price target on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank has an average rating of “Hold” and a consensus target price of $150.17.

Get Our Latest Report on MTB

M&T Bank Stock Down 1.8 %

Shares of NYSE:MTB opened at $140.65 on Wednesday. The stock’s 50-day moving average price is $139.49 and its 200-day moving average price is $131.77. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.23. The stock has a market capitalization of $23.44 billion, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 1.27 and a beta of 0.80. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33.

M&T Bank (NYSE:MTBGet Free Report) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same period last year, the business posted $4.57 earnings per share. On average, equities analysts anticipate that M&T Bank Co. will post 13.88 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.70%. M&T Bank’s dividend payout ratio (DPR) is currently 32.95%.

About M&T Bank

(Free Report)

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.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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