Citizens & Northern Corp Buys 1,107 Shares of M&T Bank Corporation $MTB

Citizens & Northern Corp increased its position in shares of M&T Bank Corporation (NYSE:MTB) by 39.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,891 shares of the financial services provider’s stock after buying an additional 1,107 shares during the quarter. Citizens & Northern Corp’s holdings in M&T Bank were worth $755,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. First Manhattan CO. LLC. grew its holdings in shares of M&T Bank by 0.6% during the 1st 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 in the last quarter. Compound Planning Inc. lifted its position 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 period. Checchi Capital Advisers LLC boosted its stake in M&T Bank by 4.4% during the first quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider’s stock worth $282,000 after buying an additional 67 shares in the last quarter. Mayflower Financial Advisors LLC increased its holdings in M&T Bank by 3.9% in the 1st quarter. Mayflower Financial Advisors LLC now owns 1,876 shares of the financial services provider’s stock valued at $335,000 after buying an additional 70 shares during the period. Finally, HBK Sorce Advisory LLC increased its holdings in M&T Bank by 0.3% in the 1st quarter. HBK Sorce Advisory LLC now owns 24,560 shares of the financial services provider’s stock valued at $4,390,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup raised their price objective on shares of M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Cowen restated a “buy” rating on shares of M&T Bank in a research note on Monday. DA Davidson lifted their price objective on M&T Bank from $189.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Truist Financial lowered their price objective on M&T Bank from $227.00 to $217.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Finally, Jefferies Financial Group raised their target price on M&T Bank from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $217.76.

Insider Transactions at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the completion of the sale, the director directly owned 17,866 shares of the company’s stock, valued at approximately $3,569,448.14. The trade was a 45.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Trading Down 0.2%

MTB opened at $181.69 on Wednesday. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $225.70. The firm has a 50-day moving average price of $194.56 and a two-hundred day moving average price of $186.60. The stock has a market capitalization of $28.39 billion, a PE ratio of 11.19, a PEG ratio of 0.90 and a beta of 0.62. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The business had revenue of $1.54 billion for the quarter. As a group, equities analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.3%. This is a boost from M&T Bank’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, September 2nd. M&T Bank’s payout ratio is currently 36.95%.

About M&T Bank

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.