First Trust Direct Indexing L.P. Purchases 1,153 Shares of M&T Bank Co. (NYSE:MTB)

First Trust Direct Indexing L.P. boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 28.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,205 shares of the financial services provider’s stock after acquiring an additional 1,153 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in M&T Bank were worth $927,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its stake in M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 68 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of M&T Bank in the first quarter valued at approximately $30,000. Oakworth Capital Inc. bought a new position in shares of M&T Bank during the 2nd quarter worth approximately $35,000. nVerses Capital LLC acquired a new position in shares of M&T Bank during the 3rd quarter worth approximately $53,000. Finally, Annapolis Financial Services LLC raised its stake in M&T Bank by 150.7% in the 3rd quarter. Annapolis Financial Services LLC now owns 376 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 226 shares during the period. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total value of $396,000.00. Following the sale, the director now directly owns 29,796 shares in the company, valued at approximately $5,899,608. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Rene F. Jones sold 23,071 shares of M&T Bank stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the sale, the chief executive officer now directly owns 77,226 shares of the company’s stock, valued at approximately $14,972,576.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert E. Sadler, Jr. sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total value of $396,000.00. Following the sale, the director now owns 29,796 shares in the company, valued at approximately $5,899,608. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 70,234 shares of company stock worth $12,586,627 over the last 90 days. Insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

NYSE MTB opened at $192.25 on Friday. M&T Bank Co. has a 1 year low of $112.60 and a 1 year high of $200.94. The firm has a market capitalization of $32.08 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 2.80 and a beta of 0.75. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm’s 50 day simple moving average is $179.30 and its 200 day simple moving average is $162.56.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Wall Street Analyst Weigh In

MTB has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Citigroup raised their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Piper Sandler upped their target price on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods lifted their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Finally, Royal Bank of Canada upped their price objective on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, M&T Bank presently has a consensus rating of “Hold” and an average target price of $198.76.

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.