LVZ Inc. Purchases 242 Shares of M&T Bank Co. (NYSE:MTB)

LVZ Inc. boosted its stake in shares of M&T Bank Co. (NYSE:MTBFree Report) by 9.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,862 shares of the financial services provider’s stock after acquiring an additional 242 shares during the period. LVZ Inc.’s holdings in M&T Bank were worth $392,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MTB. Clear Street Markets LLC bought a new stake in shares of M&T Bank in the 4th quarter worth about $25,000. Stonebridge Capital Advisors LLC lifted its holdings in shares of M&T Bank by 1,980.0% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 208 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 198 shares during the last quarter. RVW Wealth LLC bought a new stake in shares of M&T Bank in the 3rd quarter worth about $27,000. Quarry LP bought a new stake in shares of M&T Bank in the 1st quarter worth about $27,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of M&T Bank in the 1st quarter worth about $27,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. Insiders sold a total of 35,481 shares of company stock worth $5,114,624 in the last three months. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

MTB has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 target price for the company. in a report on Monday, December 18th. Piper Sandler decreased their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. DA Davidson reiterated a “neutral” rating and set a $159.00 price objective on shares of M&T Bank in a report on Wednesday, March 6th. Finally, UBS Group boosted their price target on shares of 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 issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $150.17.

Read Our Latest Analysis on M&T Bank

M&T Bank Stock Performance

NYSE:MTB traded down $0.39 during trading hours on Wednesday, hitting $140.26. 323,191 shares of the company were exchanged, compared to its average volume of 1,197,886. The company’s 50 day moving average price is $139.46 and its 200-day moving average price is $131.85. The stock has a market capitalization of $23.37 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.27 and a beta of 0.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.99 and a quick ratio of 0.99. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $148.23.

M&T Bank (NYSE:MTBGet Free Report) last posted its earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the firm earned $4.57 earnings per share. As a group, research analysts forecast that M&T Bank Co. will post 13.88 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio 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.

See Also

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

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