Atria Investments Inc Has $1.13 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Atria Investments Inc trimmed its stake in M&T Bank Co. (NYSE:MTB) by 15.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,344 shares of the financial services provider’s stock after selling 1,181 shares during the quarter. Atria Investments Inc’s holdings in M&T Bank were worth $1,130,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Hedeker Wealth LLC grew its holdings 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 valued at $627,000 after buying an additional 55 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in M&T Bank by 1.0% in the third 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 during the period. Crestwood Advisors Group LLC raised its position in M&T Bank by 1.9% in the third 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 during the period. Hexagon Capital Partners LLC raised its position in M&T Bank by 54.4% in 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 period. Finally, Meitav Investment House Ltd. raised its position in M&T Bank by 3.1% in the third quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 69 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. This represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction dated Monday, October 28th. The shares were 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 in the company, valued at $14,972,576.88. This trade represents a 23.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,854 shares of company stock worth $13,637,588. 0.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MTB has been the topic of several research reports. Royal Bank of Canada boosted their price target on shares of M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Barclays boosted their price target on shares of M&T Bank from $170.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Wedbush boosted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. raised shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Finally, Piper Sandler boosted their price target on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $199.65.

M&T Bank Stock Up 0.7 %

Shares of NYSE MTB opened at $214.74 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12 month low of $123.37 and a 12 month high of $216.84. The firm has a market capitalization of $35.63 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 2.98 and a beta of 0.74. The firm has a fifty day simple moving average of $187.11 and a two-hundred day simple moving average of $167.05.

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 the consensus estimate of $3.60 by $0.48. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.30 billion. Equities analysts expect that M&T Bank Co. will post 14.56 earnings per share for the current year.

M&T Bank Announces Dividend

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

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.