Sanctuary Advisors LLC Raises Position in M&T Bank Co. (NYSE:MTB)

Sanctuary Advisors LLC increased its holdings in M&T Bank Co. (NYSE:MTB) by 14.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,767 shares of the financial services provider’s stock after buying an additional 2,018 shares during the period. Sanctuary Advisors LLC’s holdings in M&T Bank were worth $2,808,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of M&T Bank in the third quarter worth $44,000. Principal Financial Group Inc. raised its position in shares of M&T Bank by 1.4% in the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock worth $35,466,000 after buying an additional 2,797 shares in the last quarter. Smead Capital Management Inc. raised its position in shares of M&T Bank by 3.5% in the third quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock worth $87,959,000 after buying an additional 16,657 shares in the last quarter. National Pension Service raised its position in shares of M&T Bank by 5.2% in the third quarter. National Pension Service now owns 268,138 shares of the financial services provider’s stock worth $47,761,000 after buying an additional 13,302 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in M&T Bank by 6.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 50,275 shares of the financial services provider’s stock valued at $8,955,000 after acquiring an additional 2,883 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insiders Place Their Bets

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,994 shares of company stock valued at $17,211,278. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB opened at $196.17 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. M&T Bank Co. has a one year low of $128.31 and a one year high of $225.70. The company has a 50-day simple moving average of $203.86 and a two-hundred day simple moving average of $176.78. The firm has a market capitalization of $32.55 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 2.83 and a beta of 0.76.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. On average, analysts anticipate that M&T Bank Co. will post 14.63 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced 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. This represents a $5.40 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays increased their target price on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. DA Davidson increased their target price on M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Wolfe Research raised M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Friday, October 4th. Bank of America increased their target price on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $211.58.

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.