47,366 M&T Bank Corporation $MTB Shares Sold by O Keefe Stevens Advisory Inc.

O Keefe Stevens Advisory Inc. lessened its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 97.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,001 shares of the financial services provider’s stock after selling 47,366 shares during the period. O Keefe Stevens Advisory Inc.’s holdings in M&T Bank were worth $218,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MTB. GAMMA Investing LLC raised its holdings in M&T Bank by 1.9% during the 3rd quarter. GAMMA Investing LLC now owns 6,462 shares of the financial services provider’s stock worth $1,406,000 after buying an additional 119 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of M&T Bank by 9.0% during the third quarter. Farther Finance Advisors LLC now owns 6,724 shares of the financial services provider’s stock worth $1,463,000 after acquiring an additional 554 shares during the period. Everhart Financial Group Inc. lifted its position in M&T Bank by 5.8% in the 3rd quarter. Everhart Financial Group Inc. now owns 2,470 shares of the financial services provider’s stock valued at $537,000 after acquiring an additional 135 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in M&T Bank by 153.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 276 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 167 shares in the last quarter. Finally, Eastern Bank boosted its stake in M&T Bank by 259.2% in the 3rd quarter. Eastern Bank now owns 24,456 shares of the financial services provider’s stock worth $5,322,000 after purchasing an additional 17,647 shares during the period. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MTB has been the subject of several recent research reports. Cantor Fitzgerald upped their price objective on M&T Bank from $262.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Jefferies Financial Group cut their target price on M&T Bank from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Evercore set a $230.00 price target on shares of M&T Bank in a research note on Thursday, October 1st. TD Cowen began coverage on shares of M&T Bank in a report on Thursday. They issued a “hold” rating and a $245.00 price objective on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of M&T Bank in a report on Tuesday, September 1st. Eight research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $250.21.

M&T Bank Stock Performance

NYSE MTB traded down $0.14 on Friday, hitting $217.41. 225,422 shares of the stock were exchanged, compared to its average volume of 1,123,599. The company has a market capitalization of $31.40 billion, a PE ratio of 11.49, a P/E/G ratio of 1.23 and a beta of 0.61. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. The business’s fifty day moving average is $235.88 and its 200 day moving average is $228.09. M&T Bank Corporation has a 52 week low of $174.76 and a 52 week high of $255.95.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the business earned $4.28 EPS. Research analysts anticipate that M&T Bank Corporation will post 19.42 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st were paid a $1.50 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $6.00 annualized dividend and a yield of 2.8%. M&T Bank’s dividend payout ratio is currently 31.68%.

Key Headlines Impacting M&T Bank

Here are the key news stories impacting M&T Bank this week:

• Positive Sentiment: Raymond James initiated coverage with an “outperform” rating and a $250 price target, implying roughly 15% upside based on the reference price. The bullish stance could help sentiment toward MTB. M&T Bank Stock Bumped Up to Moderate Buy by Raymond James Financial
• Positive Sentiment: Zacks expects M&T Bank to have a favorable setup for an earnings beat, citing the combination of factors it uses to assess quarterly results. Expectations for earnings growth could attract buyers ahead of the report. M&T Bank Corporation Earnings Expected to Grow
• Positive Sentiment: M&T Bank is expected to report earnings Friday, providing a near-term catalyst. A stronger-than-expected result or upbeat outlook could improve the stock’s recent weakness. M&T Bank Expected to Announce Earnings
• Neutral Sentiment: TD Cowen began coverage with a “hold” rating and a $245 price target. Although the target implies meaningful upside, the neutral rating indicates limited conviction until investors see the upcoming results.

Insider Activity at M&T Bank

In other news, Director Rudina Seseri sold 623 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the sale, the director directly owned 3,649 shares of the company’s stock, valued at $879,554.96. This trade represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO René Jones sold 19,396 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the transaction, the chief executive officer directly owned 103,831 shares in the company, valued at $24,851,949.85. The trade was a 15.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,028 shares of company stock worth $4,794,884 in the last 90 days. Corporate insiders own 0.44% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York. Founded in 1856, the company operates primarily through its M&T Bank subsidiary and serves consumers, businesses, institutions and government entities.

M&T Bank provides a range of banking products and services, including checking and savings accounts, consumer lending, residential mortgages, credit cards, commercial loans, treasury management and investment services. Through its wealth management and institutional businesses, the company also offers trust, investment management, custody and related financial services.

The bank serves customers across a footprint concentrated in the Mid-Atlantic and Northeastern United States, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and Washington, DC Its businesses also include Wilmington Trust, which provides wealth management, corporate and institutional trust, and related services.

John R.