M&T Bank Co. (NYSE:MTB) Stock Position Decreased by Court Place Advisors LLC

Court Place Advisors LLC cut its stake in shares of M&T Bank Co. (NYSE:MTB) by 2.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,854 shares of the financial services provider’s stock after selling 60 shares during the period. Court Place Advisors LLC’s holdings in M&T Bank were worth $508,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MTB. Hexagon Capital Partners LLC lifted its stake in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of M&T Bank in the 1st quarter valued at approximately $30,000. Oakworth Capital Inc. acquired a new position in M&T Bank in the 2nd quarter worth approximately $35,000. nVerses Capital LLC purchased a new position in M&T Bank during the 3rd quarter worth approximately $53,000. Finally, Annapolis Financial Services LLC raised its stake in M&T Bank by 150.7% during the 3rd quarter. Annapolis Financial Services LLC now owns 376 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 226 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. The Goldman Sachs Group raised their target price on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Piper Sandler boosted 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 report on Monday, July 22nd. DA Davidson increased their target price on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Morgan Stanley boosted their price target on shares of M&T Bank from $195.00 to $220.00 and gave the company 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 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 $197.47.

M&T Bank Stock Performance

MTB stock traded up $0.80 during midday trading on Friday, hitting $195.30. 80,885 shares of the company traded hands, compared to its average volume of 1,036,650. The business has a 50 day simple moving average of $174.96 and a 200-day simple moving average of $159.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $200.94. The stock has a market capitalization of $32.59 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.76%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Buying and Selling

In other news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.28, for a total value of $989,096.60. Following the sale, the insider now owns 47,944 shares in the company, valued at approximately $7,780,352.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 6,095 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $162.28, for a total value of $989,096.60. Following the completion of the sale, the insider now directly owns 47,944 shares of the company’s stock, valued at $7,780,352.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kirk W. Walters sold 2,471 shares of the business’s 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 transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,735 shares of company stock valued at $7,437,757. Insiders own 0.82% of the company’s stock.

M&T Bank Company 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.