Townsquare Capital LLC Buys Shares of 1,292 M&T Bank Co. (NYSE:MTB)

Townsquare Capital LLC purchased a new stake in shares of M&T Bank Co. (NYSE:MTB) in the 3rd quarter, HoldingsChannel reports. The fund purchased 1,292 shares of the financial services provider’s stock, valued at approximately $230,000.

A number of other institutional investors have also modified their holdings of the company. CWM LLC boosted its stake in M&T Bank by 3.9% in the second quarter. CWM LLC now owns 5,596 shares of the financial services provider’s stock valued at $847,000 after acquiring an additional 211 shares in the last quarter. Simplicity Wealth LLC lifted its holdings in shares of M&T Bank by 3.9% during the 2nd quarter. Simplicity Wealth LLC now owns 3,094 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 116 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of M&T Bank by 9.2% in the 2nd quarter. QRG Capital Management Inc. now owns 1,750 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 148 shares in the last quarter. Czech National Bank grew its stake in M&T Bank by 8.5% during the 2nd quarter. Czech National Bank now owns 31,795 shares of the financial services provider’s stock worth $4,812,000 after buying an additional 2,494 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC increased its position in M&T Bank by 16.6% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 9,986 shares of the financial services provider’s stock valued at $1,511,000 after buying an additional 1,423 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Activity

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the sale, the insider now directly owns 16,429 shares of the company’s stock, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,994 shares of company stock worth $17,211,278 in the last ninety days. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MTB shares. Evercore ISI boosted their price target on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $223.50 price objective (up from $215.00) on shares of M&T Bank in a research note on Wednesday. The Goldman Sachs Group upped their target price on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods lifted their price target on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and a consensus price target of $209.32.

M&T Bank Trading Down 0.5 %

Shares of NYSE:MTB opened at $211.26 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12-month low of $128.31 and a 12-month high of $225.70. The business has a 50 day moving average of $200.25 and a two-hundred day moving average of $174.06. The company has a market capitalization of $35.05 billion, a PE ratio of 15.64, a PEG ratio of 2.98 and a beta of 0.76.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.48. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. As a group, analysts forecast that M&T Bank Co. will post 14.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Monday, December 2nd. M&T Bank’s payout ratio is currently 39.97%.

M&T Bank Company Profile

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.