Ogorek Anthony Joseph NY ADV Sells 191 Shares of M&T Bank Co. (NYSE:MTB)

Ogorek Anthony Joseph NY ADV reduced its holdings in M&T Bank Co. (NYSE:MTB) by 34.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 358 shares of the financial services provider’s stock after selling 191 shares during the period. Ogorek Anthony Joseph NY ADV’s holdings in M&T Bank were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MTB. Principal Securities Inc. bought a new position in shares of M&T Bank during the 4th quarter valued at approximately $34,000. Jump Financial LLC bought a new position in M&T Bank during the fourth quarter valued at $203,000. QRG Capital Management Inc. purchased a new stake in shares of M&T Bank in the fourth quarter valued at $232,000. Principal Financial Group Inc. lifted its holdings in shares of M&T Bank by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 196,358 shares of the financial services provider’s stock worth $26,917,000 after acquiring an additional 2,887 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in shares of M&T Bank by 3.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 4,308 shares of the financial services provider’s stock worth $590,000 after purchasing an additional 127 shares during the period. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Up 1.9 %

Shares of M&T Bank stock opened at $168.88 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $28.18 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 3.32 and a beta of 0.76. The firm’s 50-day moving average is $165.07 and its two-hundred day moving average is $152.23. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $176.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period last year, the firm earned $5.12 earnings per share. As a group, research analysts expect that M&T Bank Co. will post 14.24 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $1.35 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.20%. M&T Bank’s dividend payout ratio is presently 36.51%.

Insider Transactions at M&T Bank

In related news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the sale, the director now owns 44,902 shares of the company’s stock, valued at $7,724,491.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the sale, the director now owns 31,796 shares in the company, valued at $5,476,225.08. The disclosure for this sale can be found here. In the last three months, insiders sold 32,699 shares of company stock valued at $5,115,349. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MTB shares. Bank of America increased their price objective on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley increased their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Jefferies Financial Group boosted their price objective on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Piper Sandler upped their price objective 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. Finally, Wells Fargo & Company downgraded M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $170.00 to $165.00 in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $175.85.

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.