M&T Bank Corporation $MTB Shares Sold by LRI Investments LLC

LRI Investments LLC reduced its holdings in M&T Bank Corporation (NYSE:MTB) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,443 shares of the financial services provider’s stock after selling 284 shares during the period. LRI Investments LLC’s holdings in M&T Bank were worth $2,220,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Folger Nolan Fleming Douglas Capital Management Inc. boosted its stake in shares of M&T Bank by 0.8% in the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 12,500 shares of the financial services provider’s stock worth $2,425,000 after acquiring an additional 100 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in shares of M&T Bank by 27.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 8,111 shares of the financial services provider’s stock worth $1,574,000 after acquiring an additional 1,741 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in shares of M&T Bank by 5.7% in the second quarter. KLP Kapitalforvaltning AS now owns 58,904 shares of the financial services provider’s stock worth $11,427,000 after acquiring an additional 3,200 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of M&T Bank by 17.2% in the second quarter. Valeo Financial Advisors LLC now owns 1,990 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 292 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. boosted its stake in shares of M&T Bank by 6.3% in the second quarter. Hudson Edge Investment Partners Inc. now owns 40,483 shares of the financial services provider’s stock worth $7,853,000 after acquiring an additional 2,414 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at M&T Bank

In related news, EVP Peter D’arcy sold 2,461 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total transaction of $485,579.91. Following the completion of the transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at $1,838,731.89. The trade was a 20.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John P. Barnes sold 15,000 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the transaction, the director directly owned 17,866 shares of the company’s stock, valued at $3,569,448.14. The trade was a 45.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,738 shares of company stock worth $3,734,612 over the last quarter. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MTB shares. Evercore ISI lifted their price target on M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a research note on Wednesday. Cantor Fitzgerald started coverage on M&T Bank in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 price target on the stock. Piper Sandler started coverage on M&T Bank in a research note on Monday, October 6th. They issued an “overweight” rating and a $225.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on M&T Bank from $206.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $216.18.

M&T Bank Price Performance

NYSE:MTB opened at $180.66 on Friday. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $225.70. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $28.23 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.89 and a beta of 0.62. The stock’s fifty day moving average is $195.21 and its two-hundred day moving average is $186.13.

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

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a $1.50 dividend. This is an increase from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, September 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 38.86%.

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.