LGT Financial Advisors LLC Has $48,000 Stock Holdings in M&T Bank Co. (NYSE:MTB)

by · The Markets Daily

LGT Financial Advisors LLC decreased its position in M&T Bank Co. (NYSE:MTB – Free Report) by 44.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 270 shares of the financial services provider’s stock after selling 216 shares during the period. LGT Financial Advisors LLC’s holdings in M&T Bank were worth $48,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in shares of M&T Bank by 232.1% in the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after purchasing an additional 472,997 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after buying an additional 319,051 shares during the period. Canoe Financial LP lifted its holdings in M&T Bank by 29.4% in the third quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock valued at $103,200,000 after buying an additional 133,748 shares during the period. International Assets Investment Management LLC boosted its stake in M&T Bank by 17,784.1% in the third quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock valued at $19,623,000 after acquiring an additional 109,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after acquiring an additional 93,113 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Price Performance

NYSE MTB opened at $216.56 on Thursday. 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 12-month low of $115.93 and a 12-month high of $216.84. The firm’s 50 day moving average is $181.20 and its 200-day moving average is $163.98. The company has a market capitalization of $36.13 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.70 and a beta of 0.74.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 39.97%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Morgan Stanley raised their target price on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada boosted their price objective 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. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $183.00 to $215.00 in a report on Tuesday, September 3rd. Finally, Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $198.76.

Read Our Latest Research Report on MTB

Insider Buying and Selling

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the transaction, the insider now owns 40,502 shares of the company’s stock, valued at $7,933,531.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Vice Chairman Kevin J. Pearson sold 6,095 shares of M&T Bank stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.28, for a total transaction of $989,096.60. Following the completion of the transaction, the insider now owns 47,944 shares in the company, valued at approximately $7,780,352.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of M&T Bank stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the transaction, the insider now owns 40,502 shares of the company’s stock, valued at $7,933,531.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,734 shares of company stock worth $14,055,727. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Company Profile

(Free Report)

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.

Further Reading