Cornell Pochily Investment Advisors Inc. Takes Position in M&T Bank Co. (NYSE:MTB)

Cornell Pochily Investment Advisors Inc. bought a new position in shares of M&T Bank Co. (NYSE:MTB) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 1,282 shares of the financial services provider’s stock, valued at approximately $228,000.

A number of other institutional investors have also added to or reduced their stakes in MTB. Fidelis Capital Partners LLC acquired a new position in shares of M&T Bank during the 1st quarter worth about $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 buying an additional 68 shares during the last quarter. Oakworth Capital Inc. bought a new stake in M&T Bank in the second quarter valued at approximately $35,000. Versant Capital Management Inc raised its stake in M&T Bank by 82.7% in the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after buying an additional 201 shares during the period. Finally, Bank & Trust Co acquired a new stake in shares of M&T Bank in the second quarter valued at approximately $70,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on MTB shares. Evercore ISI raised M&T Bank from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $187.00 to $210.00 in a report on Wednesday, October 2nd. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Bank of America lifted their target price on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Citigroup upped their price target on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Jefferies Financial Group raised their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $185.75.

M&T Bank Trading Up 0.2 %

Shares of M&T Bank stock opened at $185.56 on Tuesday. The firm has a market capitalization of $30.96 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 3.27 and a beta of 0.75. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $170.39 and its 200 day moving average is $157.49. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $186.91.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the prior year, the business earned $5.12 earnings per share. Equities research analysts forecast that M&T Bank Co. will post 14.16 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Insider Activity

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,699 shares of company stock valued at $5,115,349 over the last quarter. 0.82% of the stock is owned by company insiders.

M&T Bank 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.