Ascent Group LLC Has $2.77 Million Stock Position in M&T Bank Co. (NYSE:MTB)

Ascent Group LLC boosted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 12.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,566 shares of the financial services provider’s stock after buying an additional 1,728 shares during the period. Ascent Group LLC’s holdings in M&T Bank were worth $2,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of MTB. Plato Investment Management Ltd raised its position in M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after buying an additional 161 shares during the period. Ashton Thomas Securities LLC acquired a new position in M&T Bank in the 3rd quarter worth about $32,000. Hexagon Capital Partners LLC increased its position in M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 68 shares during the last quarter. Oakworth Capital Inc. acquired a new position in M&T Bank in the 2nd quarter worth about $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 158 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $215.69 on Tuesday. The business has a 50 day moving average price of $196.45 and a 200 day moving average price of $172.10. M&T Bank Co. has a twelve month low of $128.31 and a twelve month high of $225.70. The company has a market cap of $35.79 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 3.10 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. Research analysts predict that M&T Bank Co. will post 14.57 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be given a $1.35 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.50%. M&T Bank’s dividend payout ratio is currently 39.97%.

Insiders Place Their Bets

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 5,618 shares of the company’s stock, valued at $1,095,678.54. This represents a 20.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,504 shares of company stock worth $16,673,712. 0.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MTB. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Bank of America upped their target price on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. DA Davidson upped their target price on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada upped their target price on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $206.41.

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.