Optimize Financial Inc Acquires New Holdings in M&T Bank Corporation $MTB

Optimize Financial Inc bought a new position in shares of M&T Bank Corporation (NYSE:MTB) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 2,267 shares of the financial services provider’s stock, valued at approximately $448,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in shares of M&T Bank by 2,214.3% during the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 155 shares during the period. Bank of Jackson Hole Trust raised its position in M&T Bank by 342.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in M&T Bank during the 2nd quarter worth $36,000. Westside Investment Management Inc. lifted its holdings in M&T Bank by 61.8% during the 3rd quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after buying an additional 76 shares during the period. Finally, Cullen Frost Bankers Inc. grew its position in shares of M&T Bank by 1,109.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 254 shares of the financial services provider’s stock valued at $49,000 after buying an additional 233 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

Insider Activity at M&T Bank

In other news, EVP Christopher E. Kay sold 5,250 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total value of $1,006,425.00. Following the completion of the sale, the executive vice president directly owned 5,501 shares in the company, valued at $1,054,541.70. This trade represents a 48.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Gary N. Geisel sold 887 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $215.79, for a total value of $191,405.73. Following the completion of the sale, the insider directly owned 16,446 shares of the company’s stock, valued at $3,548,882.34. The trade was a 5.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 30,003 shares of company stock worth $6,283,182 over the last quarter. Company insiders own 0.53% of the company’s stock.

M&T Bank Price Performance

M&T Bank stock opened at $232.14 on Thursday. The stock has a market capitalization of $35.68 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.00 and a beta of 0.60. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $235.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 0.90. The stock’s 50 day moving average price is $207.85 and its two-hundred day moving average price is $196.92.

M&T Bank (NYSE:MTB) last released its earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.25. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same quarter in the previous year, the company earned $3.77 EPS. On average, equities analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, December 1st. M&T Bank’s dividend payout ratio is 35.19%.

Wall Street Analyst Weigh In

MTB has been the subject of a number of analyst reports. Barclays raised their price objective on M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Evercore ISI lowered shares of M&T Bank from an “outperform” rating to a “hold” rating and raised their price target for the stock from $210.00 to $225.00 in a report on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. Wolfe Research lowered shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Finally, Piper Sandler increased their price objective on shares of M&T Bank from $225.00 to $235.00 in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $224.29.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid?Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle?market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.