M&T Bank Corporation $MTB Shares Sold by O Keefe Stevens Advisory Inc.

O Keefe Stevens Advisory Inc. cut its position in M&T Bank Corporation (NYSE:MTB) by 97.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,001 shares of the financial services provider’s stock after selling 47,366 shares during the quarter. O Keefe Stevens Advisory Inc.’s holdings in M&T Bank were worth $218,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Bancorp Inc ME acquired a new position in shares of M&T Bank in the second quarter valued at about $25,000. Bogart Wealth LLC boosted its holdings in M&T Bank by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 84 shares during the period. NBH Bank acquired a new position in shares of M&T Bank during the 2nd quarter worth approximately $51,000. FNY Investment Advisers LLC acquired a new position in shares of M&T Bank during the 2nd quarter worth approximately $51,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of M&T Bank by 153.2% during the third quarter. Elevation Wealth Partners LLC now owns 276 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 167 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other M&T Bank news, Director Rudina Seseri sold 623 shares of M&T Bank stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the transaction, the director owned 3,649 shares in the company, valued at $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO René Jones sold 19,396 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the transaction, the chief executive officer directly owned 103,831 shares of the company’s stock, valued at approximately $24,851,949.85. The trade was a 15.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,028 shares of company stock worth $4,794,884 over the last ninety days. 0.44% of the stock is currently owned by insiders.

M&T Bank Price Performance

MTB traded down $0.14 during trading on Friday, hitting $217.41. 225,422 shares of the stock traded hands, compared to its average volume of 1,123,599. M&T Bank Corporation has a twelve month low of $174.76 and a twelve month high of $255.95. The company has a market cap of $31.40 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.23 and a beta of 0.61. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day moving average price of $235.88 and a 200 day moving average price of $228.09.

M&T Bank (NYSE:MTB) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the business posted $4.28 EPS. Equities research analysts forecast that M&T Bank Corporation will post 19.42 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Tuesday, September 1st. M&T Bank’s dividend payout ratio is currently 31.68%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Raymond James Financial started coverage on M&T Bank in a research note on Tuesday. They issued an “outperform” rating and a $250.00 price target for the company. UBS Group dropped their price objective on M&T Bank from $255.00 to $238.00 and set a “neutral” rating for the company in a report on Monday. Evercore set a $230.00 target price on M&T Bank in a research report on Thursday, October 1st. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Morgan Stanley decreased their price target on M&T Bank from $304.00 to $301.00 and set an “overweight” rating on the stock in a research report on Monday, September 28th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $250.21.

Key Headlines Impacting M&T Bank

Here are the key news stories impacting M&T Bank this week:

• Positive Sentiment: Raymond James initiated coverage with an “outperform” rating and a $250 price target, implying roughly 15% upside based on the reference price. The bullish stance could help sentiment toward MTB. M&T Bank Stock Bumped Up to Moderate Buy by Raymond James Financial
• Positive Sentiment: Zacks expects M&T Bank to have a favorable setup for an earnings beat, citing the combination of factors it uses to assess quarterly results. Expectations for earnings growth could attract buyers ahead of the report. M&T Bank Corporation Earnings Expected to Grow
• Positive Sentiment: M&T Bank is expected to report earnings Friday, providing a near-term catalyst. A stronger-than-expected result or upbeat outlook could improve the stock’s recent weakness. M&T Bank Expected to Announce Earnings
• Neutral Sentiment: TD Cowen began coverage with a “hold” rating and a $245 price target. Although the target implies meaningful upside, the neutral rating indicates limited conviction until investors see the upcoming results.

About M&T Bank

M&T Bank Corporation is a regional financial services company headquartered in Buffalo, New York. Founded in 1856, the company operates primarily through its M&T Bank subsidiary and serves consumers, businesses, institutions and government entities.

M&T Bank provides a range of banking products and services, including checking and savings accounts, consumer lending, residential mortgages, credit cards, commercial loans, treasury management and investment services. Through its wealth management and institutional businesses, the company also offers trust, investment management, custody and related financial services.

The bank serves customers across a footprint concentrated in the Mid-Atlantic and Northeastern United States, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and Washington, DC Its businesses also include Wilmington Trust, which provides wealth management, corporate and institutional trust, and related services.

John R.