Vise Technologies Inc. Buys 2,840 Shares of M&T Bank Corporation $MTB

Vise Technologies Inc. raised its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 45.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 9,037 shares of the financial services provider’s stock after purchasing an additional 2,840 shares during the period. Vise Technologies Inc.’s holdings in M&T Bank were worth $1,967,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MTB. Eastern Bank increased its stake in shares of M&T Bank by 259.2% in the 3rd quarter. Eastern Bank now owns 24,456 shares of the financial services provider’s stock valued at $5,322,000 after purchasing an additional 17,647 shares in the last quarter. International Assets Investment Management LLC boosted its position in M&T Bank by 1,288.9% during the third quarter. International Assets Investment Management LLC now owns 30,000 shares of the financial services provider’s stock worth $6,528,000 after purchasing an additional 27,840 shares in the last quarter. Danske Bank A S purchased a new position in M&T Bank during the second quarter worth approximately $34,683,000. Envestnet Asset Management Inc. grew its holdings in M&T Bank by 3.6% in the second quarter. Envestnet Asset Management Inc. now owns 318,844 shares of the financial services provider’s stock valued at $75,888,000 after purchasing an additional 11,169 shares during the period. Finally, Susquehanna Fundamental Investments LLC grew its holdings in M&T Bank by 205.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 110,553 shares of the financial services provider’s stock valued at $26,313,000 after purchasing an additional 74,353 shares during the period. Institutional investors own 84.68% of the company’s stock.

Insiders Place Their Bets

In other news, CEO René Jones sold 19,396 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the sale, the chief executive officer directly owned 103,831 shares in the company, valued at $24,851,949.85. This represents a 15.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the completion of the transaction, the director directly owned 3,649 shares of the company’s stock, valued at $879,554.96. The trade was a 14.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

MTB has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 price target for the company. in a report on Thursday, July 23rd. Citigroup boosted their price objective on shares of M&T Bank from $225.00 to $230.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. JPMorgan Chase & Co. decreased their target price on shares of M&T Bank from $265.50 to $248.50 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Truist Financial lowered their target price on shares of M&T Bank from $250.00 to $235.00 and set a “hold” rating for the company in a research note on Tuesday, October 20th. Finally, Royal Bank Of Canada dropped their price target on shares of M&T Bank from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average target price of $244.89.

M&T Bank Price Performance

Shares of NYSE MTB opened at $219.80 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a fifty day moving average price of $224.76 and a 200 day moving average price of $225.26. M&T Bank Corporation has a 1-year low of $179.75 and a 1-year high of $255.95. The company has a market cap of $31.74 billion, a PE ratio of 11.47, a P/E/G ratio of 1.30 and a beta of 0.64.

M&T Bank (NYSE:MTB) last posted its earnings results on Friday, October 16th. The financial services provider reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.93 by $0.15. M&T Bank had a net margin of 22.63% and a return on equity of 11.86%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period last year, the firm posted $4.82 EPS. Sell-side analysts forecast that M&T Bank Corporation will post 19.48 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, September 1st. M&T Bank’s payout ratio is 31.32%.

About M&T Bank

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, M&T Bank, was founded in 1856 and provides financial products and services to individuals, businesses and institutions.

The company’s offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, credit cards, treasury management and other banking services. Through its wealth management and institutional businesses, including Wilmington Trust, M&T also provides investment management, fiduciary, trust, estate planning and related corporate services.

M&T Bank serves customers through branch locations and digital banking channels in several states, primarily across the Mid-Atlantic and Northeast, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and the District of Columbia.