HighTower Advisors LLC Grows Position in M&T Bank Corporation $MTB

HighTower Advisors LLC grew its stake in M&T Bank Corporation (NYSE:MTB) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,108 shares of the financial services provider’s stock after buying an additional 2,366 shares during the period. HighTower Advisors LLC’s holdings in M&T Bank were worth $12,878,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth Retirement Investments LLC raised its stake in M&T Bank by 0.4% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 10,991 shares of the financial services provider’s stock worth $2,214,000 after acquiring an additional 44 shares during the last quarter. Wedmont Private Capital grew its stake in M&T Bank by 1.0% during the 2nd quarter. Wedmont Private Capital now owns 4,405 shares of the financial services provider’s stock valued at $1,067,000 after purchasing an additional 45 shares during the last quarter. Wedbush Securities Inc. increased its holdings in shares of M&T Bank by 2.4% in the fourth quarter. Wedbush Securities Inc. now owns 2,223 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 52 shares during the period. CX Institutional raised its stake in shares of M&T Bank by 3.4% in the second quarter. CX Institutional now owns 1,650 shares of the financial services provider’s stock worth $393,000 after purchasing an additional 54 shares during the last quarter. Finally, Bank of Jackson Hole Trust lifted its holdings in shares of M&T Bank by 38.7% during the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 60 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft cut shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 price objective for the company. in a research note on Thursday, July 23rd. Royal Bank Of Canada increased 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. Truist Financial raised their target price on shares of M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Robert W. Baird boosted their target price on shares of M&T Bank from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, M&T Bank has an average rating of “Hold” and an average price target of $255.97.

M&T Bank Trading Down 0.2%

Shares of M&T Bank stock opened at $238.02 on Thursday. The firm has a 50-day simple moving average of $244.84 and a two-hundred day simple moving average of $226.12. The company has a market cap of $34.38 billion, a P/E 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 fifty-two week low of $174.76 and a fifty-two week high of $255.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96.

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. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the firm earned $4.28 EPS. As a group, equities analysts predict that M&T Bank Corporation will post 19.45 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 1st. M&T Bank’s dividend payout ratio (DPR) is presently 31.68%.

Insider Activity at M&T Bank

In other news, Director Rudina Seseri sold 623 shares of the company’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 completion of the transaction, the director directly owned 3,649 shares of the company’s stock, valued at $879,554.96. This represents a 14.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.44% of the stock is owned by company insiders.

M&T Bank 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.