Mutual of America Capital Management LLC Has $6.84 Million Holdings in M&T Bank Co. (NYSE:MTB)

Mutual of America Capital Management LLC increased its holdings in M&T Bank Co. (NYSE:MTB) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,394 shares of the financial services provider’s stock after purchasing an additional 91 shares during the period. Mutual of America Capital Management LLC’s holdings in M&T Bank were worth $6,839,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MTB. Plato Investment Management Ltd boosted its stake in shares of M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in M&T Bank during the third quarter worth approximately $32,000. Hexagon Capital Partners LLC grew its holdings in 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 valued at $34,000 after purchasing an additional 68 shares during the last quarter. Oakworth Capital Inc. acquired a new stake in shares of M&T Bank in the second quarter worth $35,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock worth $37,000 after buying an additional 158 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on MTB. Piper Sandler raised their target price on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. DA Davidson lifted their price objective on M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Royal Bank of Canada lifted their price target 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. Finally, Morgan Stanley increased their price objective on M&T Bank from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. 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 company. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus target price of $199.65.

M&T Bank Stock Performance

NYSE MTB opened at $214.82 on Tuesday. M&T Bank Co. has a twelve month low of $123.46 and a twelve month high of $216.84. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The stock has a market cap of $35.64 billion, a P/E ratio of 15.90, a PEG ratio of 3.02 and a beta of 0.74. The company’s 50-day simple moving average is $188.03 and its 200 day simple moving average is $167.84.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. As a group, research analysts forecast that M&T Bank Co. will post 14.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This trade represents a 18.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of M&T Bank stock in a transaction on 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 completion of the transaction, the insider now owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. The trade was a 15.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,383 shares of company stock worth $13,576,801 over the last three months. 0.82% of the stock is currently owned by corporate insiders.

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.