Kingswood Wealth Advisors LLC Sells 376 Shares of M&T Bank Corporation $MTB

Kingswood Wealth Advisors LLC lowered its position in M&T Bank Corporation (NYSE:MTB) by 18.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,700 shares of the financial services provider’s stock after selling 376 shares during the period. Kingswood Wealth Advisors LLC’s holdings in M&T Bank were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. First Manhattan CO. LLC. lifted its stake in M&T Bank by 0.6% in the first quarter. First Manhattan CO. LLC. now owns 9,693 shares of the financial services provider’s stock worth $1,733,000 after purchasing an additional 57 shares during the last quarter. Compound Planning Inc. lifted its stake in M&T Bank by 3.0% in the first quarter. Compound Planning Inc. now owns 2,222 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 64 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in M&T Bank by 4.4% in the first quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 67 shares during the last quarter. Mayflower Financial Advisors LLC lifted its stake in M&T Bank by 3.9% in the first quarter. Mayflower Financial Advisors LLC now owns 1,876 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 70 shares during the last quarter. Finally, HBK Sorce Advisory LLC lifted its stake in M&T Bank by 0.3% in the first quarter. HBK Sorce Advisory LLC now owns 24,560 shares of the financial services provider’s stock worth $4,390,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of M&T Bank in a research note on Monday. They issued an “overweight” rating and a $225.00 price objective for the company. Morgan Stanley raised their target price on shares of M&T Bank from $206.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. Citigroup raised their target price on shares of M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Evercore ISI raised their target price on shares of M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Finally, UBS Group raised their target price on shares of M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of “Moderate Buy” and an average price target of $216.18.

Insider Activity at M&T Bank

In related news, Director Richard H. Jr. Ledgett sold 1,277 shares of M&T Bank stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $197.48, for a total transaction of $252,181.96. Following the transaction, the director directly owned 4,881 shares of the company’s stock, valued at $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter D’arcy sold 2,461 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $1,838,731.89. The trade was a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,738 shares of company stock valued at $3,734,612 over the last ninety days. 0.53% of the stock is owned by company insiders.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $180.66 on Friday. The firm has a market cap of $28.23 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.92 and a beta of 0.62. The firm’s 50 day simple moving average is $195.21 and its 200-day simple moving average is $186.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97. M&T Bank Corporation has a one year low of $150.75 and a one year high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. The company had revenue of $1.54 billion for the quarter. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. As a group, equities analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 annualized dividend and a yield of 3.3%. M&T Bank’s dividend payout ratio is 38.86%.

M&T Bank Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.