3,086 Shares in M&T Bank Co. (NYSE:MTB) Purchased by Sapient Capital LLC

Sapient Capital LLC purchased a new stake in M&T Bank Co. (NYSE:MTB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,086 shares of the financial services provider’s stock, valued at approximately $423,000.

A number of other hedge funds also recently modified their holdings of MTB. Raymond James & Associates lifted its position in M&T Bank by 7.0% in the first quarter. Raymond James & Associates now owns 134,655 shares of the financial services provider’s stock worth $2,692,000 after purchasing an additional 8,765 shares during the period. American Century Companies Inc. lifted its holdings in shares of M&T Bank by 112.8% during the 1st quarter. American Century Companies Inc. now owns 82,957 shares of the financial services provider’s stock worth $1,658,000 after acquiring an additional 43,979 shares during the period. US Bancorp DE increased its stake in M&T Bank by 9.4% in the first quarter. US Bancorp DE now owns 15,149 shares of the financial services provider’s stock valued at $303,000 after acquiring an additional 1,304 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in M&T Bank by 7.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 59,394 shares of the financial services provider’s stock valued at $1,187,000 after acquiring an additional 4,175 shares during the period. Finally, AlphaCrest Capital Management LLC bought a new position in M&T Bank during the first quarter worth about $306,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the subject of a number of recent research reports. Barclays increased their target price on M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. DA Davidson reiterated a “neutral” rating and set a $159.00 price objective on shares of M&T Bank in a research note on Wednesday, March 6th. StockNews.com downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Deutsche Bank Aktiengesellschaft cut shares of M&T Bank from a “buy” rating to a “hold” rating and set a $145.00 target price for the company. in a research report on Monday, December 18th. Finally, Piper Sandler decreased their price objective on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $155.21.

M&T Bank Stock Down 0.5 %

Shares of MTB opened at $134.56 on Monday. The business’s fifty day moving average price is $139.18 and its two-hundred day moving average price is $132.55. The firm has a market capitalization of $22.42 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 1.25 and a beta of 0.80. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $148.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.74 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the business earned $4.57 earnings per share. On average, analysts predict that M&T Bank Co. will post 13.89 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.86%. M&T Bank’s dividend payout ratio is currently 32.95%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 3,961 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $143.60, for a total transaction of $568,799.60. Following the transaction, the executive vice president now owns 5,000 shares in the company, valued at $718,000. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is currently owned by insiders.

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.