374 Shares in M&T Bank Co. (NYSE:MTB) Bought by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC purchased a new position in M&T Bank Co. (NYSE:MTB) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 374 shares of the financial services provider’s stock, valued at approximately $67,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hedeker Wealth LLC increased its holdings in M&T Bank by 1.6% in the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after acquiring an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in M&T Bank by 1.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after acquiring an additional 57 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in M&T Bank by 54.4% in the 3rd 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 in the last quarter. Meitav Investment House Ltd. increased its holdings in M&T Bank by 3.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 69 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in M&T Bank by 3.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 12.1 %

Shares of MTB opened at $216.56 on Thursday. The firm has a market cap of $36.13 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 2.72 and a beta of 0.74. M&T Bank Co. has a 12-month low of $115.93 and a 12-month high of $216.84. The company’s 50-day moving average price is $181.20 and its 200 day moving average price is $163.98. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $1.35 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a yield of 2.49%. M&T Bank’s dividend payout ratio (DPR) is currently 39.97%.

Analysts Set New Price Targets

Several brokerages have issued reports on MTB. Piper Sandler lifted their target price on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. DA Davidson lifted their target price on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Bank of America lifted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods lifted their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Finally, StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. One investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $198.76.

Insider Activity at M&T Bank

In related news, EVP John R. Taylor sold 1,436 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $195.03, for a total value of $280,063.08. Following the sale, the executive vice president now directly owns 5,618 shares in the company, 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 is accessible through this link. In other M&T Bank news, EVP Michael J. Todaro sold 4,791 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $162.57, for a total transaction of $778,872.87. Following the sale, the executive vice president now directly owns 3,086 shares in the company, valued at $501,691.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John R. Taylor sold 1,436 shares of the business’s 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 sale, the executive vice president now owns 5,618 shares in the company, valued at $1,095,678.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,734 shares of company stock worth $14,055,727. Company insiders own 0.82% of the company’s stock.

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.