M&T Bank Co. (NYSE:MTB) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. grew its holdings in shares of M&T Bank Co. (NYSE:MTB) by 27.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,065 shares of the financial services provider’s stock after acquiring an additional 656 shares during the period. Raymond James Trust N.A.’s holdings in M&T Bank were worth $546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MTB. Charles Schwab Investment Management Inc. grew its stake in M&T Bank by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after purchasing an additional 190,837 shares in the last quarter. John G Ullman & Associates Inc. acquired a new stake in shares of M&T Bank during the third quarter worth approximately $553,000. Citizens Financial Group Inc. RI increased its stake in shares of M&T Bank by 28.5% in the third quarter. Citizens Financial Group Inc. RI now owns 1,894 shares of the financial services provider’s stock worth $337,000 after buying an additional 420 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in M&T Bank in the third quarter valued at $1,564,000. Finally, SouthState Corp boosted its stake in M&T Bank by 25.8% during the 3rd quarter. SouthState Corp now owns 6,139 shares of the financial services provider’s stock valued at $1,093,000 after acquiring an additional 1,258 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Price Performance

Shares of MTB opened at $221.96 on Tuesday. The firm has a market capitalization of $36.83 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. M&T Bank Co. has a one year low of $123.46 and a one year high of $225.70. The stock’s fifty day moving average is $192.95 and its 200-day moving average is $170.23.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Equities analysts anticipate that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Announces Dividend

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

Insider Buying and Selling at M&T Bank

In related news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The trade was a 18.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Barnes sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $217.45, for a total transaction of $4,349,000.00. Following the sale, the director now owns 35,480 shares of the company’s stock, valued at $7,715,126. The trade was a 36.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,383 shares of company stock valued at $17,925,801. 0.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MTB. Wedbush upped their target price on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Royal Bank of Canada upped their price objective on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company raised their price objective on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research note on Friday, November 15th. Finally, DA Davidson boosted their target price on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. 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 MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average price target of $201.71.

M&T Bank Company 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.