EP Wealth Advisors LLC Makes New Investment in M&T Bank Co. (NYSE:MTB)

EP Wealth Advisors LLC bought a new position in M&T Bank Co. (NYSE:MTB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,444 shares of the financial services provider’s stock, valued at approximately $1,148,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MTB. QRG Capital Management Inc. grew its position in M&T Bank by 9.2% in the 2nd quarter. QRG Capital Management Inc. now owns 1,750 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 148 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of M&T Bank by 241.4% in the second quarter. Assenagon Asset Management S.A. now owns 32,813 shares of the financial services provider’s stock valued at $4,967,000 after acquiring an additional 23,201 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of M&T Bank by 30.1% in the second quarter. Blue Trust Inc. now owns 1,391 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 322 shares in the last quarter. Lakewood Asset Management LLC boosted its holdings in shares of M&T Bank by 1.4% in the second quarter. Lakewood Asset Management LLC now owns 12,598 shares of the financial services provider’s stock valued at $1,907,000 after acquiring an additional 170 shares in the last quarter. Finally, Oakworth Capital Inc. bought a new position in shares of M&T Bank in the second quarter valued at approximately $35,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 0.1 %

Shares of NYSE:MTB opened at $206.99 on Wednesday. The firm has a fifty day moving average of $200.82 and a two-hundred day moving average of $174.61. The firm has a market capitalization of $34.34 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 2.96 and a beta of 0.76. M&T Bank Co. has a 12-month low of $128.31 and a 12-month high of $225.70. 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 issued its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.60 by $0.48. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. On average, equities analysts expect 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 paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

Insider Buying and Selling at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction on Tuesday, November 26th. The shares were 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 of the company’s stock, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total transaction of $3,879,400.00. Following the completion of the sale, the director now directly owns 49,960 shares of the company’s stock, valued at approximately $9,690,741.20. The trade was a 28.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 84,994 shares of company stock valued at $17,211,278 in the last quarter. Company insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MTB shares. The Goldman Sachs Group increased their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. DA Davidson increased their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, October 21st. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and raised their target price for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Finally, Compass Point raised their target price on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average 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.