Natixis Advisors LLC Purchases 18,318 Shares of M&T Bank Co. (NYSE:MTB)

Natixis Advisors LLC increased its position in shares of M&T Bank Co. (NYSE:MTB) by 10.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,879 shares of the financial services provider’s stock after acquiring an additional 18,318 shares during the quarter. Natixis Advisors LLC owned about 0.12% of M&T Bank worth $34,890,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Hedeker Wealth LLC raised its stake in shares of M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after acquiring an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC raised its stake in shares of M&T Bank by 1.0% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider’s stock worth $1,005,000 after acquiring an additional 57 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in shares of M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 57 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of M&T Bank by 54.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. grew its position in M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $214.74 on Monday. The company’s fifty day moving average price is $187.11 and its 200 day moving average price is $167.36. M&T Bank Co. has a 1 year low of $123.37 and a 1 year high of $216.84. The company has a market capitalization of $35.63 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 3.02 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.48. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. On average, research analysts predict that M&T Bank Co. will post 14.56 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 39.97%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Barclays boosted their target price on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Wolfe Research raised shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Wedbush boosted their target price on shares of M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and an average target price of $199.65.

Insiders Place Their Bets

In other news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $195.88, for a total value of $1,469,100.00. Following the transaction, the insider now directly owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. This trade represents a 15.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the completion of the transaction, the executive vice president now directly owns 5,618 shares in the company, valued at approximately $1,095,678.54. This represents a 20.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,383 shares of company stock worth $13,576,801. Company insiders own 0.82% of the company’s stock.

About M&T Bank

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.