Senvest Management LLC Raises Stock Holdings in M&T Bank Co. (NYSE:MTB)

Senvest Management LLC raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 12.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 882,841 shares of the financial services provider’s stock after buying an additional 96,500 shares during the quarter. M&T Bank comprises 5.5% of Senvest Management LLC’s portfolio, making the stock its 4th biggest position. Senvest Management LLC owned 0.53% of M&T Bank worth $157,252,000 as of its most recent filing with the Securities and Exchange Commission.

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

M&T Bank Stock Performance

Shares of MTB stock opened at $221.12 on Friday. The stock has a market cap of $36.69 billion, a P/E ratio of 16.37, a P/E/G ratio of 3.05 and a beta of 0.74. The company has a fifty day moving average price of $191.98 and a two-hundred day moving average price of $169.61. M&T Bank Co. has a one year low of $123.46 and a one year high of $221.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, equities analysts predict that M&T Bank Co. will post 14.56 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 2nd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Monday, December 2nd. M&T Bank’s payout ratio is presently 39.97%.

Analysts Set New Price Targets

A number of brokerages have weighed in on MTB. Bank of America lifted their price target on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised shares of 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 report on Tuesday, September 3rd. Barclays increased their target price on M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Evercore ISI boosted their price target on M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Wedbush increased their price objective on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. 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 stock. According to MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $199.65.

Insider Activity at M&T Bank

In other news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’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 sale, the insider now owns 40,502 shares in the company, valued at $7,933,531.76. The trade was a 15.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert E. Sadler, Jr. sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total value of $396,000.00. Following the transaction, the director now owns 29,796 shares in the company, valued at approximately $5,899,608. This trade represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,383 shares of company stock worth $13,576,801. Company insiders own 0.82% of the company’s stock.

M&T Bank 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.