4,113 Shares in M&T Bank Corporation $MTB Bought by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC acquired a new position in shares of M&T Bank Corporation (NYSE:MTB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,113 shares of the financial services provider’s stock, valued at approximately $798,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTB. Wealth Preservation Advisors LLC acquired a new position in M&T Bank in the first quarter valued at about $25,000. WPG Advisers LLC acquired a new position in M&T Bank in the first quarter valued at about $25,000. Golden State Wealth Management LLC acquired a new position in M&T Bank in the first quarter valued at about $46,000. Family Legacy Financial Solutions LLC acquired a new position in M&T Bank in the second quarter valued at about $46,000. Finally, Stone House Investment Management LLC acquired a new position in M&T Bank in the first quarter valued at about $66,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at M&T Bank

In related news, Director Richard H. Jr. Ledgett sold 1,277 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $197.48, for a total transaction of $252,181.96. Following the completion of the transaction, the director directly owned 4,881 shares of the company’s stock, valued at approximately $963,899.88. This represents a 20.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John P. Barnes sold 15,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total value of $2,996,850.00. Following the transaction, the director directly owned 17,866 shares of the company’s stock, valued at $3,569,448.14. This trade represents a 45.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,738 shares of company stock valued at $3,734,612. Insiders own 0.53% of the company’s stock.

M&T Bank Trading Up 1.1%

NYSE MTB opened at $180.63 on Friday. The stock has a market capitalization of $28.23 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 0.89 and a beta of 0.62. The stock’s 50 day moving average price is $194.83 and its two-hundred day moving average price is $186.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.91. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. The firm had revenue of $1.54 billion for the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%. As a group, analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.3%. This is a boost from M&T Bank’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, September 2nd. M&T Bank’s payout ratio is currently 38.86%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MTB. Truist Financial decreased their target price on M&T Bank from $227.00 to $217.00 and set a “buy” rating for the company in a research note on Friday. Wells Fargo & Company boosted their target price on M&T Bank from $175.00 to $185.00 and gave the company an “underweight” rating in a research note on Thursday, July 17th. Morgan Stanley boosted their target price on M&T Bank from $206.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Piper Sandler started coverage on M&T Bank in a research note on Monday, October 6th. They issued an “overweight” rating and a $225.00 target price for the company. Finally, UBS Group increased their price objective on M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $216.97.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.