Ascent Wealth Partners LLC Takes Position in M&T Bank Co. (NYSE:MTB)

Ascent Wealth Partners LLC acquired a new stake in M&T Bank Co. (NYSE:MTB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,197 shares of the financial services provider’s stock, valued at approximately $213,000.

A number of other hedge funds also recently made changes to their positions in MTB. Fidelis Capital Partners LLC acquired a new stake in shares of M&T Bank in the first quarter valued at approximately $30,000. Hexagon Capital Partners LLC lifted its position in shares of M&T Bank by 54.4% in the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after buying an additional 68 shares during the last quarter. Oakworth Capital Inc. acquired a new stake in shares of M&T Bank in the second quarter valued at approximately $35,000. nVerses Capital LLC acquired a new stake in shares of M&T Bank in the third quarter valued at approximately $53,000. Finally, Versant Capital Management Inc increased its stake in shares of M&T Bank by 82.7% during the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 201 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at M&T Bank

In related news, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the sale, the chief executive officer now owns 77,226 shares of the company’s stock, valued at $14,972,576.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other M&T Bank news, EVP John R. Taylor sold 1,436 shares of M&T Bank stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the transaction, the executive vice president now directly owns 5,618 shares of the company’s stock, valued at approximately $1,095,678.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rene F. Jones sold 23,071 shares of M&T Bank stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total value of $4,473,005.48. Following the transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at $14,972,576.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,734 shares of company stock valued at $14,055,727 in the last 90 days. 0.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MTB. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. The Goldman Sachs Group increased their target price on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Citigroup raised their price objective on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Company raised their price objective on M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. One research 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 MarketBeat.com, the company has an average rating of “Hold” and an average target price of $198.76.

M&T Bank Price Performance

Shares of NYSE MTB traded down $5.29 during mid-day trading on Thursday, hitting $211.27. 104,713 shares of the stock traded hands, compared to its average volume of 1,043,692. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. M&T Bank Co. has a twelve month low of $115.93 and a twelve month high of $216.84. The company has a market cap of $35.25 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.70 and a beta of 0.74. The firm has a 50 day simple moving average of $181.20 and a two-hundred day simple moving average of $163.98.

M&T Bank Dividend Announcement

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 dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

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.