M&T Bank Co. (NYSE:MTB) Shares Bought by Hancock Whitney Corp

Hancock Whitney Corp lifted its position in shares of M&T Bank Co. (NYSE:MTB) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,239 shares of the financial services provider’s stock after buying an additional 208 shares during the quarter. Hancock Whitney Corp’s holdings in M&T Bank were worth $1,824,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Plato Investment Management Ltd grew its stake in M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank in the third quarter valued at $32,000. Hexagon Capital Partners LLC increased its stake in M&T Bank by 54.4% in the third 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. Oakworth Capital Inc. purchased a new position in M&T Bank during the second quarter worth about $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in M&T Bank by 329.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after buying an additional 158 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert E. Sadler, Jr. sold 2,000 shares of M&T Bank stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total transaction of $396,000.00. Following the sale, the director now directly owns 29,796 shares of the company’s stock, valued at approximately $5,899,608. The trade was a 6.29 % 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 this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This represents a 18.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,383 shares of company stock valued at $17,925,801 in the last quarter. Company insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

MTB stock opened at $221.96 on Tuesday. The firm has a market cap of $36.83 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99. M&T Bank Co. has a 1 year low of $123.46 and a 1 year high of $225.70. The stock has a 50-day simple moving average of $192.95 and a 200-day simple moving average of $170.23.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. On average, equities analysts predict that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.43%. The ex-dividend date is Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Analyst Ratings Changes

Several analysts have commented on the company. Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and lifted their price target for the company from $220.00 to $230.00 in a report on Monday. Bank of America upped their price target on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $183.00 to $215.00 in a research note on Tuesday, September 3rd. Evercore ISI boosted their price objective on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company increased their target price on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $201.71.

M&T Bank Company 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.