M&T Bank Corporation $MTB Holdings Decreased by Cora Capital Advisors LLC

Cora Capital Advisors LLC decreased its position in shares of M&T Bank Corporation (NYSE:MTB) by 72.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,418 shares of the financial services provider’s stock after selling 3,718 shares during the quarter. Cora Capital Advisors LLC’s holdings in M&T Bank were worth $309,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MTB. Bank of New York Mellon Corp bought a new stake in shares of M&T Bank in the second quarter valued at about $330,978,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in M&T Bank by 2.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,517 shares of the financial services provider’s stock worth $252,414,000 after acquiring an additional 26,486 shares during the period. Davis Asset Management L.P. bought a new position in M&T Bank during the 2nd quarter worth about $97,584,000. Hsbc Holdings PLC grew its holdings in M&T Bank by 18.9% during the 2nd quarter. Hsbc Holdings PLC now owns 396,157 shares of the financial services provider’s stock worth $94,364,000 after acquiring an additional 62,877 shares in the last quarter. Finally, Amundi grew its holdings in M&T Bank by 7.7% during the 2nd quarter. Amundi now owns 388,916 shares of the financial services provider’s stock worth $92,566,000 after acquiring an additional 27,795 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other news, CEO René Jones sold 19,396 shares of M&T Bank stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $239.35, for a total value of $4,642,432.60. Following the transaction, the chief executive officer owned 103,831 shares of the company’s stock, valued at $24,851,949.85. The trade was a 15.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the transaction, the director owned 3,649 shares of the company’s stock, valued at approximately $879,554.96. This trade represents a 14.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.44% of the stock is currently owned by company insiders.

M&T Bank Price Performance

Shares of MTB stock opened at $219.80 on Friday. M&T Bank Corporation has a 1-year low of $179.75 and a 1-year high of $255.95. The stock’s 50-day moving average is $224.76 and its 200 day moving average is $225.26. The company has a market cap of $31.74 billion, a P/E ratio of 11.62, a PEG ratio of 1.30 and a beta of 0.64. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.89 and a quick ratio of 0.89.

M&T Bank (NYSE:MTB) last posted its earnings results on Friday, October 16th. The financial services provider reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.93 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.53 billion. M&T Bank had a return on equity of 11.86% and a net margin of 22.63%. During the same quarter in the previous year, the firm earned $4.82 earnings per share. Research analysts predict that M&T Bank Corporation will post 19.48 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, September 1st. M&T Bank’s dividend payout ratio (DPR) is currently 31.32%.

Analyst Ratings Changes

Several equities research analysts have recently commented on MTB shares. Truist Financial reduced their price target on shares of M&T Bank from $250.00 to $235.00 and set a “hold” rating for the company in a report on Tuesday, October 20th. Jefferies Financial Group lowered their price target on shares of M&T Bank from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, September 24th. Wells Fargo & Company increased their price objective on shares of M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a research note on Thursday, July 16th. Robert W. Baird lifted their price objective on shares of M&T Bank from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, Barclays boosted their price objective on shares of M&T Bank from $236.00 to $267.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Eight research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $244.89.

About M&T Bank

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, M&T Bank, was founded in 1856 and provides financial products and services to individuals, businesses and institutions.

The company’s offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, credit cards, treasury management and other banking services. Through its wealth management and institutional businesses, including Wilmington Trust, M&T also provides investment management, fiduciary, trust, estate planning and related corporate services.

M&T Bank serves customers through branch locations and digital banking channels in several states, primarily across the Mid-Atlantic and Northeast, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and the District of Columbia.