Kintegral Advisory LLC Acquires 603 Shares of M&T Bank Co. (NYSE:MTB)

Kintegral Advisory LLC grew its stake in M&T Bank Co. (NYSE:MTB) by 18.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,938 shares of the financial services provider’s stock after purchasing an additional 603 shares during the quarter. Kintegral Advisory LLC’s holdings in M&T Bank were worth $596,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of M&T Bank in the 4th quarter worth approximately $11,759,000. Atria Wealth Solutions Inc. grew its holdings in shares of M&T Bank by 8.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 12,541 shares of the financial services provider’s stock valued at $1,719,000 after buying an additional 1,013 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of M&T Bank during the 4th quarter worth about $305,000. Cozad Asset Management Inc. acquired a new position in shares of M&T Bank during the 4th quarter worth about $1,369,000. Finally, WealthTrust Axiom LLC purchased a new stake in shares of M&T Bank in the 4th quarter valued at approximately $339,000. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Up 1.8 %

Shares of MTB stock traded up $3.03 during mid-day trading on Wednesday, hitting $170.43. The company’s stock had a trading volume of 967,655 shares, compared to its average volume of 1,019,123. The stock has a market cap of $28.44 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 3.34 and a beta of 0.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. The business has a 50-day moving average price of $159.78 and a 200 day moving average price of $149.42. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $176.44.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned $5.12 EPS. Research analysts predict that M&T Bank Co. will post 14.24 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, September 3rd. M&T Bank’s payout ratio is 36.51%.

Insider Buying and Selling at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now owns 31,796 shares in the company, valued at $5,476,225.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total transaction of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares in the company, valued at $502,184.40. The disclosure for this sale can be found here. Insiders have sold a total of 22,699 shares of company stock valued at $3,395,049 over the last quarter. 0.82% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MTB. Citigroup raised their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a report on Friday, July 19th. Evercore ISI boosted their price objective 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. Bank of America increased their price objective on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of M&T Bank from $180.00 to $183.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley raised their price target on shares of M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $173.85.

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.