M&T Bank Co. (NYSE:MTB) Shares Sold by Armistice Capital LLC

Armistice Capital LLC decreased its position in M&T Bank Co. (NYSE:MTB) by 95.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,512 shares of the financial services provider’s stock after selling 34,408 shares during the quarter. Armistice Capital LLC’s holdings in M&T Bank were worth $229,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. boosted its holdings in M&T Bank by 3.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 70 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of M&T Bank by 1.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 4,711 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 70 shares in the last quarter. Umpqua Bank boosted its stake in shares of M&T Bank by 5.3% in the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 73 shares during the period. Fulton Bank N.A. grew its holdings in shares of M&T Bank by 2.3% in the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 81 shares in the last quarter. Finally, Tritonpoint Wealth LLC increased its stake in M&T Bank by 2.3% during the 1st quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock worth $510,000 after buying an additional 87 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley raised their price target on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Evercore ISI upped their price target on M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Wedbush lifted their price objective on M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. raised M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Finally, Bank of America raised their target price on shares of M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus price target of $178.35.

M&T Bank Stock Performance

Shares of MTB stock opened at $175.27 on Friday. The stock’s 50-day moving average is $168.25 and its two-hundred day moving average is $154.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $180.63. The firm has a market cap of $29.24 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 3.55 and a beta of 0.76.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the business posted $5.12 EPS. Analysts predict that M&T Bank Co. will post 14.23 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 3.08%. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the sale, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now directly owns 20,414 shares in the company, valued at approximately $502,184.40. The disclosure for this sale can be found here. Insiders sold a total of 32,699 shares of company stock worth $5,115,349 in the last 90 days. 0.82% of the stock is owned by insiders.

About M&T Bank

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.