Massmutual Trust Co. FSB ADV Purchases 70 Shares of M&T Bank Co. (NYSE:MTB)

Massmutual Trust Co. FSB ADV increased its stake in M&T Bank Co. (NYSE:MTB) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,711 shares of the financial services provider’s stock after acquiring an additional 70 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in M&T Bank were worth $713,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. HHM Wealth Advisors LLC acquired a new position in shares of M&T Bank during the 4th quarter valued at $25,000. General Partner Inc. bought a new position in M&T Bank in the 1st quarter valued at $27,000. Fidelis Capital Partners LLC purchased a new position in shares of M&T Bank in the first quarter valued at $30,000. Principal Securities Inc. purchased a new stake in M&T Bank during the 4th quarter worth about $34,000. Finally, Wetzel Investment Advisors Inc. bought a new position in M&T Bank in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In related news, Director Kirk W. Walters sold 7,767 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $152.39, for a total value of $1,183,613.13. Following the completion of the sale, the director now directly owns 6,348 shares of the company’s stock, valued at $967,371.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank 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 sale, the insider now owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kirk W. Walters sold 7,767 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $152.39, for a total transaction of $1,183,613.13. Following the transaction, the director now directly owns 6,348 shares of the company’s stock, valued at $967,371.72. The disclosure for this sale can be found here. Insiders sold a total of 61,986 shares of company stock valued at $9,730,154 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Trading Up 0.2 %

NYSE:MTB traded up $0.27 during midday trading on Tuesday, hitting $160.24. 619,647 shares of the company traded hands, compared to its average volume of 1,043,950. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $176.44. The firm’s fifty day moving average is $154.28 and its 200-day moving average is $146.55. The firm has a market capitalization of $26.74 billion, a P/E ratio of 10.90, a P/E/G ratio of 3.34 and a beta of 0.77. 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 (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter last year, the firm posted $5.12 EPS. On average, sell-side analysts predict that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were issued a dividend of $1.35 per share. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 3.37%. The ex-dividend date was Monday, June 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday. Evercore ISI upped their price target on shares of M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. JPMorgan Chase & Co. boosted their target price on M&T Bank from $180.00 to $183.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Piper Sandler increased their price target on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company upped their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $172.92.

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.