M&T Bank Co. (NYSE:MTB) Shares Acquired by Moors & Cabot Inc.

Moors & Cabot Inc. lifted its stake in shares of M&T Bank Co. (NYSE:MTB) by 696.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the financial services provider’s stock after buying an additional 26,234 shares during the quarter. Moors & Cabot Inc.’s holdings in M&T Bank were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Gemmer Asset Management LLC grew its position in shares of M&T Bank by 53.2% during the third quarter. Gemmer Asset Management LLC now owns 193 shares of the financial services provider’s stock worth $29,000 after buying an additional 67 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in shares of M&T Bank by 185.4% during the second quarter. Harvest Fund Management Co. Ltd now owns 294 shares of the financial services provider’s stock worth $43,000 after buying an additional 191 shares in the last quarter. Koshinski Asset Management Inc. acquired a new stake in shares of M&T Bank during the third quarter worth approximately $62,000. Signaturefd LLC grew its position in shares of M&T Bank by 41.1% during the third quarter. Signaturefd LLC now owns 450 shares of the financial services provider’s stock worth $67,000 after buying an additional 131 shares in the last quarter. Finally, NEXT Financial Group Inc grew its position in shares of M&T Bank by 31.1% during the third quarter. NEXT Financial Group Inc now owns 506 shares of the financial services provider’s stock worth $76,000 after buying an additional 120 shares in the last quarter. 85.30% of the stock is owned by institutional investors and hedge funds.

MTB has been the topic of several research analyst reports. Citigroup raised their price objective on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, December 16th. UBS Group initiated coverage on M&T Bank in a research note on Wednesday. They set a “buy” rating and a $212.00 price objective on the stock. Royal Bank of Canada raised their price objective on M&T Bank from $166.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, October 21st. Piper Sandler raised their price objective on M&T Bank from $150.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, October 21st. Finally, Barclays raised their price objective on M&T Bank from $167.00 to $195.00 in a research note on Monday, January 3rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus target price of $173.97.

In related news, EVP D Scott N. Warman sold 3,964 shares of M&T Bank stock in a transaction dated Friday, November 12th. The stock was sold at an average price of $159.88, for a total transaction of $633,764.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert J. Bojdak sold 770 shares of M&T Bank stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $158.76, for a total value of $122,245.20. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.

MTB stock opened at $185.34 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $23.85 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.87 and a beta of 1.08. M&T Bank Co. has a 1 year low of $128.46 and a 1 year high of $185.38. The stock’s fifty day moving average is $157.79 and its two-hundred day moving average is $148.09.

M&T Bank (NYSE:MTB) last posted its earnings results on Tuesday, October 19th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.19. M&T Bank had a return on equity of 12.37% and a net margin of 30.39%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the business posted $2.77 earnings per share. As a group, analysts predict that M&T Bank Co. will post 13.86 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Tuesday, November 30th were paid a dividend of $1.20 per share. This is a boost from M&T Bank’s previous quarterly dividend of $1.10. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, November 29th. M&T Bank’s payout ratio is currently 34.41%.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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