Visionary Horizons LLC Has $629,000 Position in M&T Bank Co. (NYSE:MTB)

Visionary Horizons LLC lifted its stake in shares of M&T Bank Co. (NYSE:MTB) by 7.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,533 shares of the financial services provider’s stock after buying an additional 236 shares during the quarter. Visionary Horizons LLC’s holdings in M&T Bank were worth $629,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in shares of M&T Bank during the 1st quarter worth about $30,000. Hexagon Capital Partners LLC increased its position in M&T Bank by 54.4% during the third quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares during the period. Oakworth Capital Inc. bought a new position in M&T Bank during the second quarter worth about $35,000. nVerses Capital LLC bought a new position in M&T Bank during the third quarter worth about $53,000. Finally, Versant Capital Management Inc increased its position in M&T Bank by 82.7% during the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 201 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert E. Sadler, Jr. sold 2,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total transaction of $396,000.00. Following the sale, the director now owns 29,796 shares of the company’s stock, valued at $5,899,608. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,234 shares of company stock worth $12,586,627. 0.82% of the stock is owned by corporate insiders.

M&T Bank Stock Performance

NYSE:MTB opened at $192.25 on Friday. The company has a fifty day moving average of $179.30 and a 200-day moving average of $162.56. The firm has a market capitalization of $32.08 billion, a P/E ratio of 14.23, a P/E/G ratio of 2.80 and a beta of 0.75. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a twelve month low of $112.60 and a twelve month high of $200.94.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.81%. M&T Bank’s dividend payout ratio is currently 39.97%.

Analysts Set New Price Targets

A number of research firms recently commented on MTB. Bank of America raised their price target on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group raised their target price on shares of M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and raised their target price for the company from $183.00 to $215.00 in a report on Tuesday, September 3rd. Wedbush raised their target price on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, Royal Bank of Canada raised their target price on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank presently has an average rating of “Hold” and an average target price of $198.76.

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.