Northstar Advisory Group LLC Grows Position in M&T Bank Co. (NYSE:MTB)

Northstar Advisory Group LLC grew its stake in M&T Bank Co. (NYSE:MTB) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,935 shares of the financial services provider’s stock after acquiring an additional 1,627 shares during the quarter. M&T Bank comprises approximately 1.6% of Northstar Advisory Group LLC’s portfolio, making the stock its 19th biggest holding. Northstar Advisory Group LLC’s holdings in M&T Bank were worth $3,184,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Plato Investment Management Ltd lifted 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 purchasing an additional 161 shares during the period. Ashton Thomas Securities LLC purchased a new position in M&T Bank during the third quarter worth about $32,000. Hexagon Capital Partners LLC boosted 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 worth $34,000 after buying an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in M&T Bank by 329.2% in the 3rd 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. Finally, Capital Performance Advisors LLP purchased a new stake in M&T Bank in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MTB. Bank of America increased their price objective on shares of M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Royal Bank of Canada lifted their price target on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective for the company in a report on Friday, October 4th. Piper Sandler increased their target price on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Finally, Compass Point boosted their price target on M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $216.86.

Insider Transactions at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of M&T Bank stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. This trade represents a 29.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rene F. Jones sold 23,071 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the sale, the chief executive officer now owns 77,226 shares in the company, valued at $14,972,576.88. The trade was a 23.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Stock Up 1.9 %

MTB traded up $3.60 during trading hours on Monday, reaching $191.35. 1,366,170 shares of the stock traded hands, compared to its average volume of 1,166,710. M&T Bank Co. has a fifty-two week low of $128.31 and a fifty-two week high of $225.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $31.75 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 2.79 and a beta of 0.79. The firm’s fifty day simple moving average is $203.16 and its two-hundred day simple moving average is $182.33.

M&T Bank (NYSE:MTB) last announced its 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 business 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, analysts forecast that M&T Bank Co. will post 14.63 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) 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.