Nisa Investment Advisors LLC Sells 3,075 Shares of M&T Bank Co. (NYSE:MTB)

Nisa Investment Advisors LLC lowered its holdings in M&T Bank Co. (NYSE:MTB) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,337 shares of the financial services provider’s stock after selling 3,075 shares during the period. Nisa Investment Advisors LLC’s holdings in M&T Bank were worth $11,994,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MTB. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank in the first quarter valued at approximately $30,000. Hexagon Capital Partners LLC lifted its position in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares during the period. Oakworth Capital Inc. acquired a new stake in shares of M&T Bank during the 2nd quarter worth $35,000. nVerses Capital LLC bought a new position in shares of M&T Bank in the third quarter worth $53,000. Finally, Versant Capital Management Inc raised its stake in M&T Bank by 82.7% in the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Up 0.9 %

Shares of NYSE MTB opened at $197.49 on Thursday. M&T Bank Co. has a 1 year low of $111.08 and a 1 year high of $200.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. The firm has a market cap of $32.95 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 2.75 and a beta of 0.75. The company has a 50 day simple moving average of $178.22 and a 200 day simple moving average of $161.98.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.73%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Buying and Selling

In related news, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the completion of the transaction, the executive vice president now directly owns 5,618 shares of the company’s stock, valued at $1,095,678.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other M&T Bank news, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $195.03, for a total transaction of $280,063.08. Following the completion of the transaction, the executive vice president now owns 5,618 shares in the company, valued at approximately $1,095,678.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 2,471 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares in the company, valued at approximately $502,184.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,234 shares of company stock valued at $12,190,627 over the last 90 days. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Citigroup upped their target price on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Morgan Stanley lifted their price target on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. The Goldman Sachs Group upped their price objective on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, DA Davidson lifted their target price on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $198.76.

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.