Citizens Financial Group Inc. RI Acquires 420 Shares of M&T Bank Co. (NYSE:MTB)

Citizens Financial Group Inc. RI increased its stake in shares of M&T Bank Co. (NYSE:MTB) by 28.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,894 shares of the financial services provider’s stock after buying an additional 420 shares during the period. Citizens Financial Group Inc. RI’s holdings in M&T Bank were worth $337,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MTB. Hedeker Wealth LLC lifted its position in shares of M&T Bank by 1.6% during the third quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC lifted its holdings in 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 buying an additional 57 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in shares of M&T Bank by 1.9% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock valued at $553,000 after buying an additional 57 shares during the period. Hexagon Capital Partners LLC raised its position in shares of M&T Bank by 54.4% during the third 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 during the last quarter. Finally, Meitav Investment House Ltd. lifted its stake in shares of M&T Bank by 3.1% during the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 69 shares during the period. Institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the sale, the insider now owns 40,502 shares in the company, valued at approximately $7,933,531.76. The trade was a 15.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John R. Taylor sold 1,436 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the transaction, the executive vice president now directly owns 5,618 shares of the company’s stock, valued at $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. Insiders sold 70,383 shares of company stock valued at $13,576,801 over the last three months. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB stock opened at $221.12 on Friday. 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 Co. has a 52 week low of $123.46 and a 52 week high of $221.52. The company’s 50 day moving average price is $191.98 and its two-hundred day moving average price is $169.61. The company has a market capitalization of $36.69 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 3.05 and a beta of 0.74.

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

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.44%. M&T Bank’s dividend payout ratio (DPR) is 39.97%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank of Canada lifted their price objective on M&T Bank from $190.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Morgan Stanley boosted their price target on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Bank of America raised their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $199.65.

M&T Bank 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.