Versant Capital Management Inc Buys 201 Shares of M&T Bank Co. (NYSE:MTB)

Versant Capital Management Inc lifted its stake in shares of M&T Bank Co. (NYSE:MTB) by 82.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 444 shares of the financial services provider’s stock after purchasing an additional 201 shares during the quarter. Versant Capital Management Inc’s holdings in M&T Bank were worth $67,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. HHM Wealth Advisors LLC bought a new position in M&T Bank in the 4th quarter worth about $25,000. General Partner Inc. bought a new position in shares of M&T Bank during the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC bought a new position in shares of M&T Bank during the 1st quarter valued at about $30,000. Principal Securities Inc. bought a new position in shares of M&T Bank during the 4th quarter valued at about $34,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of M&T Bank during the 4th quarter valued at about $34,000. 84.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 7,767 shares of M&T Bank stock in a transaction 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 completion of the transaction, the director now owns 6,348 shares in the company, valued at $967,371.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kirk W. Walters sold 7,464 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the transaction, the director now owns 15,045 shares in the company, valued at $2,617,378.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kirk W. Walters sold 7,767 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $152.39, for a total value of $1,183,613.13. Following the completion of the transaction, the director now owns 6,348 shares of the company’s stock, valued at approximately $967,371.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,986 shares of company stock worth $9,730,154. 0.82% of the stock is owned by insiders.

M&T Bank Stock Up 0.2 %

Shares of NYSE MTB traded up $0.32 during mid-day trading on Tuesday, hitting $160.29. 959,839 shares of the stock traded hands, compared to its average volume of 1,046,213. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $176.44. The company has a market cap of $26.74 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 3.34 and a beta of 0.77. The stock has a fifty day moving average price of $154.28 and a 200-day moving average price of $146.55.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period in the previous year, the company posted $5.12 earnings per share. Research analysts anticipate that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MTB. Morgan Stanley increased their price objective on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company increased their target price on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. raised their price target 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. Jefferies Financial Group raised their price target on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Citigroup raised their price target on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $172.92.

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.