M&T Bank Co. (NYSE:MTB) Position Boosted by Hancock Whitney Corp

Hancock Whitney Corp boosted its position in M&T Bank Co. (NYSE:MTB) by 2.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,239 shares of the financial services provider’s stock after buying an additional 208 shares during the period. Hancock Whitney Corp’s holdings in M&T Bank were worth $1,824,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Plato Investment Management Ltd grew its position in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in M&T Bank during the third quarter worth $32,000. Hexagon Capital Partners LLC boosted its holdings in M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 158 shares during the last quarter. Finally, Oakworth Capital Inc. acquired a new stake in shares of M&T Bank during the second quarter worth $35,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MTB shares. Wedbush lifted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Morgan Stanley lifted their target price on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Friday, October 4th. Evercore ISI boosted their price objective on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $201.71.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 2,000 shares of M&T Bank stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total value of $396,000.00. Following the transaction, the director now owns 29,796 shares of the company’s stock, valued at $5,899,608. This trade represents a 6.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares of the company’s stock, valued at $7,724,491.06. The trade was a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,383 shares of company stock valued at $17,925,801 in the last quarter. Company insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

NYSE MTB opened at $221.96 on Tuesday. M&T Bank Co. has a 1 year low of $123.46 and a 1 year high of $225.70. The stock’s 50-day moving average price is $192.95 and its two-hundred day moving average price is $170.23. The company has a market cap of $36.83 billion, a PE ratio of 16.43, a PEG ratio of 3.11 and a beta of 0.74. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last posted 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. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. On average, analysts predict that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.43%. M&T Bank’s dividend payout ratio is presently 39.97%.

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.