LGT Financial Advisors LLC Sells 216 Shares of M&T Bank Co. (NYSE:MTB)

LGT Financial Advisors LLC lowered its position in shares of M&T Bank Co. (NYSE:MTB) by 44.4% during the third quarter, Holdings Channel.com reports. The firm owned 270 shares of the financial services provider’s stock after selling 216 shares during the quarter. LGT Financial Advisors LLC’s holdings in M&T Bank were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in M&T Bank during the 1st quarter worth $30,000. Hexagon Capital Partners LLC increased its position in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares during the period. Oakworth Capital Inc. acquired a new stake in M&T Bank in the 2nd quarter worth about $35,000. nVerses Capital LLC bought a new stake in M&T Bank in the 3rd quarter valued at about $53,000. Finally, Versant Capital Management Inc grew its position in shares of M&T Bank by 82.7% during the 2nd 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 in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Up 12.1 %

Shares of MTB opened at $216.56 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. M&T Bank Co. has a 52 week low of $115.93 and a 52 week high of $216.84. The stock has a market capitalization of $36.13 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.70 and a beta of 0.74. The stock has a fifty day moving average of $181.20 and a 200-day 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. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 39.97%.

Insider Activity at M&T Bank

In other M&T Bank news, CEO Rene F. Jones sold 23,071 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the transaction, the chief executive officer now directly owns 77,226 shares in the company, valued at approximately $14,972,576.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other M&T Bank news, CEO Rene F. Jones sold 23,071 shares of the company’s 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 sale, the chief executive officer now owns 77,226 shares in the company, valued at approximately $14,972,576.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the transaction, the insider now owns 40,502 shares of the company’s stock, valued at $7,933,531.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,734 shares of company stock worth $14,055,727 in the last quarter. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MTB shares. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Piper Sandler upped their target price on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods increased their target price on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Bank of America boosted their price target on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Evercore ISI increased their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.