Catalina Capital Group LLC Has $493,000 Stock Position in M&T Bank Co. (NYSE:MTB)

Catalina Capital Group LLC cut its holdings in shares of M&T Bank Co. (NYSE:MTB) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,768 shares of the financial services provider’s stock after selling 107 shares during the quarter. Catalina Capital Group LLC’s holdings in M&T Bank were worth $493,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hexagon Capital Partners LLC raised its stake in M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of M&T Bank during the 1st quarter worth about $30,000. Oakworth Capital Inc. acquired a new position in shares of M&T Bank during the second quarter valued at about $35,000. nVerses Capital LLC bought a new stake in shares of M&T Bank in the third quarter valued at about $53,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in M&T Bank during the third quarter worth about $67,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Price Performance

Shares of MTB stock opened at $193.14 on Wednesday. M&T Bank Co. has a 52 week low of $115.93 and a 52 week high of $200.94. The stock has a market capitalization of $32.23 billion, a PE ratio of 14.30, a PEG ratio of 2.72 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. The stock’s fifty day moving average is $180.28 and its 200-day moving average is $163.61.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.80%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is presently 39.97%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Bank of America upped their price target on M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a report on Friday, October 18th. Barclays upped their target price on M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. DA Davidson lifted their price target on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Finally, Morgan Stanley lifted their target price 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 analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $198.76.

Insiders Place Their Bets

In other news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares in the company, valued at $502,184.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rene F. Jones sold 23,071 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the completion of the transaction, the chief executive officer now owns 77,226 shares in the company, valued at approximately $14,972,576.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,734 shares of company stock valued at $14,055,727. Insiders own 0.82% of the company’s stock.

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.