M&T Bank Co. (NYSE:MTB) Shares Sold by Waldron Private Wealth LLC

by · The Markets Daily

Waldron Private Wealth LLC reduced its stake in M&T Bank Co. (NYSE:MTB – Free Report) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,306 shares of the financial services provider’s stock after selling 239 shares during the period. Waldron Private Wealth LLC’s holdings in M&T Bank were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board lifted its stake in shares of M&T Bank by 43.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after acquiring an additional 3,739 shares during the period. Leuthold Group LLC bought a new stake in shares of M&T Bank in the 1st quarter worth approximately $3,125,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of M&T Bank by 7.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after purchasing an additional 35,692 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of M&T Bank by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock worth $48,267,000 after purchasing an additional 18,566 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its holdings in shares of M&T Bank by 60.0% during the second quarter. Gateway Investment Advisers LLC now owns 32,799 shares of the financial services provider’s stock valued at $4,964,000 after acquiring an additional 12,304 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at M&T Bank

In other news, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the sale, the director now owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was 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 of the company’s stock, valued at approximately $2,834,002.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now directly owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,699 shares of company stock valued at $4,943,119. 0.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Wells Fargo & Company boosted their target price on shares of M&T Bank from $165.00 to $190.00 and gave the stock an “underweight” rating in a research report on Friday. Piper Sandler boosted 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 report on Monday, July 22nd. Jefferies Financial Group upped their price objective on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, DA Davidson upped their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Monday. One equities 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’s stock. According to MarketBeat, M&T Bank has an average rating of “Hold” and an average price target of $197.47.

Read Our Latest Stock Analysis on M&T Bank

M&T Bank Stock Up 0.5 %

MTB stock traded up $0.97 during mid-day trading on Tuesday, hitting $194.60. 771,323 shares of the company were exchanged, compared to its average volume of 1,038,002. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $32.47 billion, a P/E ratio of 13.09, a P/E/G ratio of 3.27 and a beta of 0.75. The firm’s 50 day simple moving average is $173.61 and its 200 day simple moving average is $159.31. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $200.94.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.77%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

M&T Bank Profile

(Free Report)

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.

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