Campbell & CO Investment Adviser LLC Purchases New Position in M&T Bank Co. (NYSE:MTB)

Campbell & CO Investment Adviser LLC bought a new stake in shares of M&T Bank Co. (NYSE:MTBFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,945 shares of the financial services provider’s stock, valued at approximately $541,000.

Several other hedge funds have also recently modified their holdings of MTB. Atria Wealth Solutions Inc. boosted its position in M&T Bank by 13.3% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 11,528 shares of the financial services provider’s stock valued at $1,458,000 after acquiring an additional 1,353 shares in the last quarter. Pathstone Family Office LLC lifted its position in shares of M&T Bank by 273.5% during the third quarter. Pathstone Family Office LLC now owns 11,916 shares of the financial services provider’s stock valued at $1,507,000 after buying an additional 8,726 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of M&T Bank by 6.3% during the third quarter. HighTower Advisors LLC now owns 60,820 shares of the financial services provider’s stock valued at $7,694,000 after buying an additional 3,595 shares during the last quarter. Aptus Capital Advisors LLC bought a new stake in shares of M&T Bank in the 3rd quarter valued at about $208,000. Finally, Artisan Partners Limited Partnership boosted its stake in M&T Bank by 1.3% in the third quarter. Artisan Partners Limited Partnership now owns 511,786 shares of the financial services provider’s stock valued at $64,715,000 after acquiring an additional 6,599 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $146.82 on Friday. The business’s 50 day moving average price is $146.22 and its 200-day moving average price is $140.26. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $156.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $24.50 billion, a PE ratio of 9.93, a P/E/G ratio of 2.84 and a beta of 0.78.

M&T Bank (NYSE:MTBGet Free Report) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the prior year, the company posted $4.09 EPS. As a group, equities research analysts expect that M&T Bank Co. will post 14.04 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a $1.35 dividend. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Monday, June 3rd. M&T Bank’s dividend payout ratio is presently 36.51%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MTB. JPMorgan Chase & Co. boosted their target price on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods raised their target price on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $159.04.

Read Our Latest Stock Report on MTB

Insiders Place Their Bets

In other M&T Bank news, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the transaction, the executive vice president now directly owns 5,000 shares in the company, valued at approximately $718,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kirk W. Walters sold 28,845 shares of the business’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 sale, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Doris P. Meister sold 3,961 shares of the 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 directly owns 5,000 shares of the company’s stock, valued at approximately $718,000. The disclosure for this sale can be found here. Insiders sold 130,359 shares of company stock valued at $19,475,472 in the last three months. 0.82% of the stock is currently owned by insiders.

About M&T Bank

(Free Report)

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.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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