Wedmont Private Capital Buys 189 Shares of M&T Bank Co. (NYSE:MTB)

Wedmont Private Capital increased its stake in M&T Bank Co. (NYSE:MTBFree Report) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,305 shares of the financial services provider’s stock after acquiring an additional 189 shares during the period. Wedmont Private Capital’s holdings in M&T Bank were worth $808,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MTB. FMR LLC lifted its position in M&T Bank by 13.9% in the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after purchasing an additional 1,508,846 shares during the last quarter. State Street Corp grew its holdings in shares of M&T Bank by 6.4% in the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock worth $1,562,725,000 after purchasing an additional 527,854 shares during the last quarter. Marshall Wace LLP increased its stake in shares of M&T Bank by 232.1% in the second quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after buying an additional 472,997 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in M&T Bank during the 3rd quarter valued at $44,422,000. Finally, Charles Schwab Investment Management Inc. boosted its position in M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after buying an additional 190,837 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MTB. Truist Financial started coverage on shares of M&T Bank in a research note on Tuesday, January 7th. They set a “buy” rating and a $233.00 price objective for the company. Evercore ISI increased 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. Wells Fargo & Company boosted their target price on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. Compass Point raised their price target on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Wedbush boosted 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 report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $216.86.

Get Our Latest Report on M&T Bank

M&T Bank Stock Up 1.9 %

MTB stock opened at $194.82 on Wednesday. The business has a 50 day moving average of $203.21 and a 200 day moving average of $182.94. The firm has a market cap of $32.32 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 2.79 and a beta of 0.79. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70. 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:MTBGet Free Report) last issued its quarterly earnings results 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 firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. On average, research analysts forecast that M&T Bank Co. will post 14.63 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a $1.35 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.77%. M&T Bank’s dividend payout ratio is presently 39.97%.

Insider Activity

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the sale, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. The trade was a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Tracy S. Woodrow sold 2,121 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the transaction, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 84,994 shares of company stock worth $17,211,278 over the last 90 days. 0.82% of the stock is currently owned by insiders.

M&T Bank Profile

(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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