Prime Capital Investment Advisors LLC Sells 904 Shares of M&T Bank Corporation $MTB

Prime Capital Investment Advisors LLC decreased its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 46.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,048 shares of the financial services provider’s stock after selling 904 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in M&T Bank were worth $203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP raised its position in shares of M&T Bank by 33.1% during the 1st quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider’s stock valued at $1,768,564,000 after acquiring an additional 2,460,315 shares during the last quarter. Invesco Ltd. raised its position in shares of M&T Bank by 15.2% during the 1st quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider’s stock valued at $635,039,000 after acquiring an additional 468,758 shares during the last quarter. Northern Trust Corp raised its position in shares of M&T Bank by 2.3% during the 1st quarter. Northern Trust Corp now owns 1,721,410 shares of the financial services provider’s stock valued at $307,702,000 after acquiring an additional 38,081 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of M&T Bank by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,611,137 shares of the financial services provider’s stock valued at $287,932,000 after acquiring an additional 12,580 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of M&T Bank by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,442,381 shares of the financial services provider’s stock valued at $257,826,000 after acquiring an additional 30,643 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In related news, EVP Peter D’arcy sold 2,461 shares of the company’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total value 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 approximately $1,838,731.89. This represents a 20.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Barnes sold 15,000 shares of the 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 transaction, the director owned 17,866 shares of the company’s stock, valued at approximately $3,569,448.14. This represents a 45.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,738 shares of company stock valued at $3,734,612. Company insiders own 0.53% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE MTB opened at $180.66 on Monday. The firm has a market cap of $28.23 billion, a PE ratio of 11.70, a PEG ratio of 0.90 and a beta of 0.62. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $225.70. The company has a fifty day moving average price of $195.21 and a 200 day moving average price of $186.18.

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

M&T Bank Increases Dividend

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

Wall Street Analysts Forecast Growth

MTB has been the subject of several recent research reports. Wells Fargo & Company upped their target price on shares of M&T Bank from $175.00 to $185.00 and gave the company an “underweight” rating in a research report on Thursday, July 17th. Piper Sandler started coverage on shares of M&T Bank in a research report on Monday, October 6th. They issued an “overweight” rating and a $225.00 price objective for the company. Morgan Stanley upped their price objective on shares of M&T Bank from $206.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Evercore ISI upped their price objective on shares of M&T Bank from $222.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Finally, UBS Group upped their price objective on shares of M&T Bank from $207.00 to $208.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, M&T Bank currently has a consensus rating of “Moderate Buy” and an average price target of $216.18.

M&T Bank Company 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.