Courier Capital LLC Purchases 663 Shares of M&T Bank Co. (NYSE:MTB)

Courier Capital LLC boosted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,084 shares of the financial services provider’s stock after purchasing an additional 663 shares during the quarter. Courier Capital LLC’s holdings in M&T Bank were worth $6,032,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTB. Northstar Advisory Group LLC raised its holdings in M&T Bank by 10.6% in the 4th quarter. Northstar Advisory Group LLC now owns 16,935 shares of the financial services provider’s stock valued at $3,184,000 after acquiring an additional 1,627 shares in the last quarter. Wedmont Private Capital raised its stake in shares of M&T Bank by 4.6% in the fourth quarter. Wedmont Private Capital now owns 4,305 shares of the financial services provider’s stock valued at $808,000 after purchasing an additional 189 shares in the last quarter. Fiduciary Alliance LLC lifted its position in M&T Bank by 8.7% in the fourth quarter. Fiduciary Alliance LLC now owns 25,991 shares of the financial services provider’s stock worth $4,887,000 after purchasing an additional 2,086 shares during the period. Czech National Bank boosted its stake in M&T Bank by 5.7% during the fourth quarter. Czech National Bank now owns 35,975 shares of the financial services provider’s stock worth $6,764,000 after buying an additional 1,956 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in M&T Bank by 9.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,774 shares of the financial services provider’s stock valued at $3,166,000 after buying an additional 1,468 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insiders Place Their Bets

In related news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the transaction, the insider now directly owns 40,502 shares in the company, valued at approximately $7,933,531.76. The trade was a 15.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 84,994 shares of company stock valued at $17,211,278 in the last quarter. 0.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

MTB has been the subject of several recent research reports. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Wells Fargo & Company lifted their price objective on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research report on Friday, November 15th. Piper Sandler increased their target price on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and lifted their price target for the company from $220.00 to $230.00 in a report on Monday, November 25th. Finally, Wedbush increased their price objective on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $216.86.

M&T Bank Stock Up 1.9 %

MTB stock traded up $3.60 during mid-day trading on Monday, hitting $191.35. 1,373,138 shares of the company were exchanged, compared to its average volume of 1,166,710. The firm has a market cap of $31.75 billion, a P/E ratio of 14.16, a P/E/G ratio of 2.79 and a beta of 0.79. M&T Bank Co. has a 1-year low of $128.31 and a 1-year high of $225.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50 day simple moving average is $203.16 and its 200 day simple moving average is $182.33.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. On average, sell-side analysts predict that M&T Bank Co. will post 14.63 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.82%. The ex-dividend date was Monday, December 2nd. M&T Bank’s payout ratio is 39.97%.

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.