Great Valley Advisor Group Inc. Has $618,000 Stock Holdings in M&T Bank Co. (NYSE:MTB)

Great Valley Advisor Group Inc. boosted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,465 shares of the financial services provider’s stock after buying an additional 252 shares during the period. Great Valley Advisor Group Inc.’s holdings in M&T Bank were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of M&T Bank by 3.9% in 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 during the period. Massachusetts Financial Services Co. MA increased its stake in M&T Bank by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after buying an additional 81,004 shares during the period. Dimensional Fund Advisors LP lifted its position in M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after buying an additional 93,113 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of M&T Bank by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after buying an additional 44,442 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of M&T Bank by 3.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after acquiring an additional 43,795 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Evercore ISI increased their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays raised their price target on M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Wedbush boosted their price target on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Bank of America boosted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy 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 $203.29.

M&T Bank Stock Down 0.5 %

MTB opened at $220.77 on Wednesday. M&T Bank Co. has a 1-year low of $123.46 and a 1-year high of $225.70. The business has a 50 day moving average of $193.89 and a 200-day moving average of $170.70. The stock has a market capitalization of $36.63 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 3.11 and a beta of 0.74. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. As a group, sell-side analysts anticipate that M&T Bank Co. will post 14.56 earnings per share 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 issued a $1.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.45%. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Insiders Place Their Bets

In related news, EVP John R. Taylor sold 1,436 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $195.03, for a total value of $280,063.08. Following the completion of the transaction, the executive vice president now directly owns 5,618 shares in the company, valued at approximately $1,095,678.54. This represents a 20.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction 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 in the company, valued at $7,715,126. This represents a 36.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,383 shares of company stock worth $17,925,801. 0.82% of the stock is currently owned by company insiders.

About M&T Bank

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.