Courier Capital LLC Has $5.60 Million Stake in M&T Bank Co. (NYSE:MTB)

Courier Capital LLC lowered its stake in shares of M&T Bank Co. (NYSE:MTB) by 0.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 31,421 shares of the financial services provider’s stock after selling 283 shares during the period. Courier Capital LLC’s holdings in M&T Bank were worth $5,597,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its stake in M&T Bank by 4.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after purchasing an additional 81,004 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of M&T Bank by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after buying an additional 93,113 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of M&T Bank by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after buying an additional 44,442 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of M&T Bank by 3.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock worth $211,631,000 after buying an additional 43,795 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in shares of M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after buying an additional 319,051 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,199 shares of company stock valued at $4,856,869 over the last 90 days. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MTB shares. Evercore ISI upgraded M&T Bank from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $187.00 to $210.00 in a research note on Wednesday, October 2nd. Citigroup lifted their price target on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, July 19th. DA Davidson lifted their price target on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday. Bank of America lifted their price target on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $197.47.

M&T Bank Price Performance

Shares of MTB stock traded down $0.47 on Wednesday, reaching $193.60. The company’s stock had a trading volume of 167,182 shares, compared to its average volume of 1,035,699. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $200.94. The company has a market capitalization of $32.30 billion, a P/E ratio of 13.13, a PEG ratio of 3.27 and a beta of 0.75. The stock’s 50 day simple moving average is $174.28 and its 200-day simple moving average is $159.70.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.79%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

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.