ST Germain D J Co. Inc. Grows Holdings in M&T Bank Corporation $MTB

Key Points

• ST Germain D J Co. Inc. increased its stake in M&T Bank Corporation by 12.0%, now holding 14,553 shares valued at approximately $2.82 million.
• Company insiders have sold significant amounts of stock recently, with total insider sales of $3.73 million over the last ninety days.
• M&T Bank recently announced an increase in its quarterly dividend to $1.50 per share, which translates to an annualized yield of 3.0%.

ST Germain D J Co. Inc. increased its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 12.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,553 shares of the financial services provider's stock after buying an additional 1,560 shares during the period. ST Germain D J Co. Inc.'s holdings in M&T Bank were worth $2,823,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Marcum Wealth LLC grew its holdings in M&T Bank by 4.9% during the 1st quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock worth $220,000 after acquiring an additional 57 shares in the last quarter. First Manhattan CO. LLC. grew its holdings in 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 acquiring an additional 57 shares in the last quarter. Compound Planning Inc. grew its holdings in M&T Bank by 3.0% during the 1st quarter. Compound Planning Inc. now owns 2,222 shares of the financial services provider's stock worth $397,000 after acquiring an additional 64 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in M&T Bank by 4.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider's stock worth $282,000 after acquiring an additional 67 shares in the last quarter. Finally, Investors Research Corp grew its holdings in M&T Bank by 31.1% during the 1st quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock worth $53,000 after acquiring an additional 70 shares in 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 other M&T Bank news, EVP Peter D'arcy sold 2,461 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were 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 at this hyperlink. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $197.48, for a total transaction of $252,181.96. Following the transaction, the director directly owned 4,881 shares of the company's stock, valued at $963,899.88. The trade was a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,738 shares of company stock valued at $3,734,612 in the last ninety days. Company insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MTB. 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. DA Davidson raised their price objective on shares of M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Morgan Stanley lifted their price target on shares of M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Jefferies Financial Group lifted their price target on shares of M&T Bank from $220.00 to $240.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company lifted their price target on shares of M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $214.53.

M&T Bank Trading Down 0.3%

M&T Bank stock opened at $198.91 on Friday. 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 firm has a 50-day moving average price of $195.37 and a two-hundred day moving average price of $184.86. The firm has a market capitalization of $31.08 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.98 and a beta of 0.67. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.04 by $0.24. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same period in the previous year, the business posted $3.73 EPS. Sell-side analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from M&T Bank's previous quarterly dividend of $1.35. M&T Bank's dividend payout ratio (DPR) is presently 38.86%.

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.

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