Cozad Asset Management Inc. Reduces Holdings in M&T Bank Co. (NYSE:MTB)

Cozad Asset Management Inc. lowered its position in M&T Bank Co. (NYSE:MTB) by 13.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,245 shares of the financial services provider’s stock after selling 1,498 shares during the quarter. Cozad Asset Management Inc.’s holdings in M&T Bank were worth $1,647,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jackson Square Capital LLC bought a new stake in shares of M&T Bank in the third quarter valued at approximately $620,000. Graypoint LLC purchased a new position in M&T Bank in the 3rd quarter valued at approximately $235,000. Forte Capital LLC ADV raised its holdings in M&T Bank by 10.6% during the 3rd quarter. Forte Capital LLC ADV now owns 2,435 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 234 shares during the period. Radnor Capital Management LLC bought a new stake in M&T Bank during the 3rd quarter valued at $356,000. Finally, Crestwood Advisors Group LLC lifted its position in shares of M&T Bank by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 57 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on MTB. JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $183.00 to $215.00 in a research note on Tuesday, September 3rd. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Royal Bank of Canada raised their price objective on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Barclays upped their target price on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, DA Davidson raised their price target on shares of M&T Bank from $192.00 to $207.00 and gave the company a “neutral” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $198.76.

Insiders Place Their Bets

In related news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the transaction, the insider now owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares in the company, valued at approximately $502,184.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the completion of the transaction, the insider now owns 40,502 shares in the company, valued at $7,933,531.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,848 shares of company stock valued at $12,287,757. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $207.95 on Friday. The firm has a market capitalization of $34.70 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 2.70 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12 month low of $115.93 and a 12 month high of $216.84. The business’s 50-day moving average price is $181.20 and its 200-day moving average price is $163.98.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s payout ratio is currently 39.97%.

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.