United Services Automobile Association raised its position in M&T Bank Co. (NYSE:MTB) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,569 shares of the financial services provider’s stock after purchasing an additional 1,314 shares during the quarter. United Services Automobile Association owned about 0.06% of M&T Bank worth $13,915,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Focused Wealth Management Inc acquired a new stake in shares of M&T Bank in the third quarter valued at approximately $102,000. Amica Retiree Medical Trust acquired a new stake in shares of M&T Bank in the third quarter valued at approximately $108,000. Sageworth Trust Co increased its stake in shares of M&T Bank by 220.0% in the third quarter. Sageworth Trust Co now owns 800 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 550 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of M&T Bank by 8,330.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 843 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 833 shares during the period. Finally, NEXT Financial Group Inc acquired a new stake in shares of M&T Bank in the third quarter valued at approximately $165,000. Institutional investors own 80.67% of the company’s stock.
Several brokerages have commented on MTB. ValuEngine upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Robert W. Baird upgraded shares of M&T Bank from a “neutral” rating to an “outperform” rating in a research note on Tuesday, October 23rd. Zacks Investment Research lowered shares of M&T Bank from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Piper Jaffray Companies upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and set a $194.00 price objective on the stock in a research note on Monday, October 22nd. Finally, Wedbush set a $188.00 price objective on shares of M&T Bank and gave the company a “hold” rating in a research note on Thursday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $184.36.
In related news, insider Doris P. Meister sold 800 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $167.24, for a total transaction of $133,792.00. Following the completion of the sale, the insider now directly owns 342 shares in the company, valued at $57,196.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sabeth Siddique sold 930 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $164.80, for a total transaction of $153,264.00. The disclosure for this sale can be found here. Insiders have sold 3,164 shares of company stock valued at $524,899 over the last 90 days. 0.48% of the stock is currently owned by insiders.
NYSE MTB opened at $161.30 on Friday. M&T Bank Co. has a 12 month low of $154.33 and a 12 month high of $197.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.64. The company has a market cap of $22.61 billion, a P/E ratio of 17.25, a P/E/G ratio of 1.02 and a beta of 0.86.
M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $3.53 EPS for the quarter, beating the Zacks’ consensus estimate of $3.35 by $0.18. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. M&T Bank had a net margin of 26.84% and a return on equity of 13.15%. During the same quarter last year, the business earned $2.21 earnings per share. Sell-side analysts predict that M&T Bank Co. will post 13.04 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 3rd will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Friday, November 30th. M&T Bank’s payout ratio is 42.78%.
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M&T Bank Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide retail and commercial banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.
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