Natixis Advisors LLC Raises Stock Position in M&T Bank Co. (NYSE:MTB)

Natixis Advisors LLC boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 10.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,879 shares of the financial services provider’s stock after purchasing an additional 18,318 shares during the period. Natixis Advisors LLC’s holdings in M&T Bank were worth $34,890,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Hedeker Wealth LLC raised its stake in M&T Bank by 1.6% during the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 55 shares during the period. Frank Rimerman Advisors LLC raised its stake in M&T Bank by 1.0% during the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after purchasing an additional 57 shares during the period. Crestwood Advisors Group LLC raised its stake in M&T Bank by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 57 shares during the period. Hexagon Capital Partners LLC raised its stake 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 purchasing an additional 68 shares during the period. Finally, Meitav Investment House Ltd. raised its stake in M&T Bank by 3.1% during the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 69 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at M&T Bank

In other news, EVP John R. Taylor sold 1,436 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $195.03, for a total transaction of $280,063.08. Following the completion of the sale, the executive vice president now owns 5,618 shares in the company, valued at approximately $1,095,678.54. The trade was a 20.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 1,590 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $210.22, for a total transaction of $334,249.80. Following the completion of the sale, the director now owns 2,108 shares of the company’s stock, valued at approximately $443,143.76. This trade represents a 43.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,383 shares of company stock worth $13,576,801. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Evercore ISI lifted their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target for the company in a research report on Friday, October 4th. Finally, Morgan Stanley lifted 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. One 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. According to MarketBeat.com, M&T Bank has an average rating of “Hold” and a consensus target price of $199.65.

M&T Bank Trading Up 0.7 %

NYSE MTB opened at $214.74 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 52 week low of $123.37 and a 52 week high of $216.84. The stock has a market capitalization of $35.63 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 3.02 and a beta of 0.74. The firm has a 50 day moving average of $187.11 and a two-hundred day moving average of $167.36.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. As a group, research analysts expect that M&T Bank Co. will post 14.56 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.51%. M&T Bank’s dividend payout ratio is presently 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.