HighTower Advisors LLC Purchases 2,366 Shares of M&T Bank Corporation $MTB

HighTower Advisors LLC raised its position in shares of M&T Bank Corporation (NYSE:MTB) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,108 shares of the financial services provider’s stock after purchasing an additional 2,366 shares during the quarter. HighTower Advisors LLC’s holdings in M&T Bank were worth $12,878,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTB. First Bancorp Inc ME bought a new stake in M&T Bank during the second quarter valued at about $25,000. Bogart Wealth LLC raised its position in shares of M&T Bank by 233.3% during the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock valued at $25,000 after buying an additional 84 shares during the last quarter. Triumph Capital Management purchased a new position in shares of M&T Bank in the third quarter worth $32,000. Elyxium Wealth LLC bought a new position in shares of M&T Bank during the 4th quarter valued at about $33,000. Finally, NBH Bank purchased a new stake in shares of M&T Bank in the second quarter worth about $51,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MTB shares. Wells Fargo & Company raised their price target on M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft lowered shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price for the company. in a report on Thursday, July 23rd. Cantor Fitzgerald upped their price target on shares of M&T Bank from $262.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $242.00 to $250.00 and gave the company a “market perform” rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada lifted their price objective on shares of M&T Bank from $230.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $255.97.

Insiders Place Their Bets

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the completion of the sale, the director directly owned 3,649 shares of the company’s stock, valued at approximately $879,554.96. This represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.44% of the stock is currently owned by insiders.

M&T Bank Trading Down 0.2%

Shares of NYSE MTB opened at $238.02 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $244.84 and a two-hundred day simple moving average of $226.12. The firm has a market cap of $34.38 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.35 and a beta of 0.56. M&T Bank Corporation has a twelve month low of $174.76 and a twelve month high of $255.95.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.69. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same quarter last year, the firm posted $4.28 EPS. Analysts expect that M&T Bank Corporation will post 19.45 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 1st. M&T Bank’s dividend payout ratio is 31.68%.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.