Fiducient Advisors LLC Sells 200 Shares of M&T Bank Co. (NYSE:MTB)

Fiducient Advisors LLC lessened its stake in shares of M&T Bank Co. (NYSE:MTB) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,970 shares of the financial services provider’s stock after selling 200 shares during the period. Fiducient Advisors LLC’s holdings in M&T Bank were worth $351,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in M&T Bank by 5.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,453 shares of the financial services provider’s stock worth $2,538,000 after purchasing an additional 967 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in M&T Bank by 7.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after acquiring an additional 35,692 shares during the period. State of Alaska Department of Revenue boosted its position in M&T Bank by 0.6% in the first quarter. State of Alaska Department of Revenue now owns 18,024 shares of the financial services provider’s stock valued at $2,621,000 after buying an additional 100 shares during the last quarter. Norden Group LLC purchased a new stake in shares of M&T Bank in the 1st quarter valued at $784,000. Finally, First Trust Direct Indexing L.P. grew its position in M&T Bank by 16.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,347 shares of the financial services provider’s stock worth $487,000 after purchasing an additional 470 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the transaction, 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 SEC, which is available at this hyperlink. In other news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now owns 20,414 shares in the company, valued at approximately $502,184.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the sale, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at $14,972,576.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,234 shares of company stock worth $12,190,627. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $197.49 on Thursday. The company has a market cap of $32.95 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 2.75 and a beta of 0.75. The company has a fifty day simple moving average of $178.22 and a two-hundred day simple moving average of $161.98. M&T Bank Co. has a 52 week low of $111.08 and a 52 week high of $200.94. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.73%. M&T Bank’s dividend payout ratio is currently 36.51%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MTB. Bank of America lifted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Barclays raised their target price on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Piper Sandler upped their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. The Goldman Sachs Group upped their target price on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Morgan Stanley raised their price target on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $198.76.

M&T Bank 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.