Speece Thorson Capital Group Inc. Has $17.88 Million Stock Position in M&T Bank Co. (NYSE:MTB)

Speece Thorson Capital Group Inc. lessened its stake in M&T Bank Co. (NYSE:MTB) by 15.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,360 shares of the financial services provider’s stock after selling 17,951 shares during the period. M&T Bank accounts for 3.3% of Speece Thorson Capital Group Inc.’s portfolio, making the stock its 6th biggest holding. Speece Thorson Capital Group Inc. owned about 0.06% of M&T Bank worth $17,876,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in M&T Bank in the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC lifted its holdings 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 valued at $34,000 after acquiring an additional 68 shares during the last quarter. Oakworth Capital Inc. acquired a new stake in M&T Bank in the 2nd quarter valued at about $35,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings 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 valued at $37,000 after acquiring an additional 158 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in M&T Bank in the 3rd quarter valued at about $44,000. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the transaction, the insider now owns 40,502 shares in the company, valued at $7,933,531.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the transaction, the insider now owns 40,502 shares in the company, valued at $7,933,531.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kirk W. Walters sold 1,590 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total value of $334,249.80. Following the completion of the sale, the director now directly owns 2,108 shares of the company’s stock, valued at $443,143.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,088 shares of company stock worth $12,613,397. Insiders own 0.82% of the company’s stock.

M&T Bank Stock Up 0.6 %

NYSE:MTB traded up $1.21 during mid-day trading on Wednesday, reaching $214.44. The stock had a trading volume of 70,525 shares, compared to its average volume of 1,046,106. The business’s 50 day moving average is $184.40 and its 200 day moving average is $165.93. M&T Bank Co. has a fifty-two week low of $118.83 and a fifty-two week high of $216.84. The stock has a market cap of $35.58 billion, a P/E ratio of 15.79, a PEG ratio of 3.02 and a beta of 0.74. 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 (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.30 billion. As a group, sell-side analysts predict that M&T Bank Co. will post 14.56 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.52%. M&T Bank’s dividend payout ratio is currently 39.97%.

Analysts Set New Price Targets

A number of brokerages have weighed in on MTB. Bank of America upped their price target on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Wedbush upped their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a research note on Friday, October 4th. Royal Bank of Canada upped their price objective on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group upped their price objective on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $198.76.

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.