Note Advisors LLC Takes Position in M&T Bank Co. (NYSE:MTB)

Note Advisors LLC bought a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,805 shares of the financial services provider's stock, valued at approximately $339,000.

Other large investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC grew its position in shares of M&T Bank by 89.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider's stock valued at $515,000 after acquiring an additional 1,295 shares during the period. US Bancorp DE lifted its stake in M&T Bank by 24.3% in the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider's stock valued at $1,576,000 after purchasing an additional 1,639 shares during the last quarter. Summit Trail Advisors LLC bought a new position in M&T Bank during the fourth quarter worth about $290,000. Valeo Financial Advisors LLC acquired a new position in M&T Bank during the fourth quarter worth approximately $297,000. Finally, Van ECK Associates Corp raised its stake in M&T Bank by 1,262.9% in the fourth quarter. Van ECK Associates Corp now owns 22,175 shares of the financial services provider's stock valued at $4,169,000 after buying an additional 20,548 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on MTB. Barclays dropped their price target on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 15th. Truist Financial cut their target price on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 target price for the company in a report on Thursday, April 24th. Cowen began coverage on shares of M&T Bank in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, Morgan Stanley cut their price objective on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, M&T Bank currently has an average rating of "Moderate Buy" and an average target price of $212.53.

Insider Activity at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.

M&T Bank Price Performance

Shares of NYSE:MTB traded down $0.98 during midday trading on Monday, hitting $179.64. The stock had a trading volume of 1,262,206 shares, compared to its average volume of 1,145,009. The company's 50-day moving average price is $172.12 and its 200-day moving average price is $188.62. The company has a market capitalization of $28.83 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period last year, the firm posted $3.09 EPS. As a group, equities research analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank's dividend payout ratio is 36.17%.

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.