1,665 Shares in M&T Bank Co. (NYSE:MTB) Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC acquired a new position in M&T Bank Co. (NYSE:MTBFree Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,665 shares of the financial services provider’s stock, valued at approximately $211,000.

Several other large investors also recently bought and sold shares of the business. Community Financial Services Group LLC bought a new stake in M&T Bank in the 3rd quarter worth about $236,000. Sound View Wealth Advisors Group LLC bought a new stake in M&T Bank in the 3rd quarter worth about $200,000. Ibex Wealth Advisors purchased a new position in M&T Bank in the third quarter worth about $478,000. Metis Global Partners LLC boosted its position in M&T Bank by 15.2% in the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock worth $893,000 after purchasing an additional 931 shares during the last quarter. Finally, Barclays PLC boosted its position in M&T Bank by 21.7% in the third quarter. Barclays PLC now owns 1,007,794 shares of the financial services provider’s stock worth $127,435,000 after purchasing an additional 179,407 shares during the last quarter. 82.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on MTB. Morgan Stanley raised their target price on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday. Piper Sandler dropped their target price on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, January 19th. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Wedbush dropped their target price on M&T Bank from $147.00 to $140.00 and set an “outperform” rating on the stock in a research report on Thursday, October 19th. Finally, DA Davidson lowered their price objective on M&T Bank from $163.00 to $159.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus price target of $149.71.

Get Our Latest Analysis on M&T Bank

M&T Bank Stock Down 1.4 %

NYSE MTB opened at $130.47 on Thursday. The stock’s 50 day moving average is $136.31 and its 200 day moving average is $129.40. The company has a current ratio of 0.93, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $161.99. The stock has a market cap of $21.65 billion, a PE ratio of 8.27, a P/E/G ratio of 1.14 and a beta of 0.80.

M&T Bank (NYSE:MTBGet Free Report) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm earned $4.57 EPS. Research analysts predict that M&T Bank Co. will post 14.34 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 1st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date was Thursday, November 30th. M&T Bank’s payout ratio is 32.95%.

Insiders Place Their Bets

In other M&T Bank news, Director John P. Barnes sold 32,940 shares of M&T Bank stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $132.80, for a total value of $4,374,432.00. Following the sale, the director now owns 34,545 shares of the company’s stock, valued at approximately $4,587,576. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other M&T Bank news, Director John P. Barnes sold 32,940 shares of M&T Bank stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $132.80, for a total value of $4,374,432.00. Following the sale, the director now owns 34,545 shares of the company’s stock, valued at approximately $4,587,576. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The disclosure for this sale can be found here. Insiders have sold a total of 80,122 shares of company stock valued at $10,561,048 in the last quarter. 0.97% of the stock is currently owned by insiders.

M&T Bank Company 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 offer retail and commercial banking products and services in the United States. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.

See Also

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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