M&T Bank Co. (NYSE:MTB) Stake Boosted by Huntington National Bank

Huntington National Bank increased its position in shares of M&T Bank Co. (NYSE:MTB) by 10.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 314,114 shares of the financial services provider’s stock after purchasing an additional 30,075 shares during the quarter. Huntington National Bank owned 0.19% of M&T Bank worth $55,950,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd increased its position in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after buying an additional 161 shares during the period. MQS Management LLC acquired a new position in shares of M&T Bank during the third quarter valued at $251,000. Aptus Capital Advisors LLC increased its holdings in shares of M&T Bank by 5.8% during the third quarter. Aptus Capital Advisors LLC now owns 2,072 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 114 shares during the period. Commonwealth Retirement Investments LLC increased its holdings in shares of M&T Bank by 2.7% during the third quarter. Commonwealth Retirement Investments LLC now owns 13,705 shares of the financial services provider’s stock valued at $2,441,000 after purchasing an additional 365 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in M&T Bank by 8.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 467,801 shares of the financial services provider’s stock worth $83,325,000 after acquiring an additional 36,822 shares during the period. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Trading Down 0.6 %

Shares of NYSE MTB opened at $211.91 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $35.16 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.00 and a beta of 0.74. M&T Bank Co. has a 52 week low of $118.83 and a 52 week high of $216.84. The business has a 50 day simple moving average of $184.40 and a 200 day simple moving average of $165.93.

M&T Bank (NYSE:MTB) last released its quarterly earnings data 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. The business 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, research analysts predict that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is 39.97%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MTB shares. Royal Bank of Canada lifted their target price on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Wedbush increased their price target on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods increased their price target on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Finally, Bank of America increased their price target on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $198.76.

Insider Activity

In other news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the transaction, the chief executive officer now owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the transaction, the chief executive officer now owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kirk W. Walters sold 1,590 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total value of $334,249.80. Following the transaction, the director now directly owns 2,108 shares in the company, valued at approximately $443,143.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,068 shares of company stock valued at $12,612,905. Insiders own 0.82% of the company’s stock.

M&T Bank 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.