M&T Bank Co. (NYSE:MTB) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in shares of M&T Bank Co. (NYSE:MTB) by 21.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,678 shares of the financial services provider’s stock after purchasing an additional 467 shares during the period. Apollon Wealth Management LLC’s holdings in M&T Bank were worth $477,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in shares of M&T Bank by 4.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after acquiring an additional 81,004 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after purchasing an additional 93,113 shares during the period. Bank of New York Mellon Corp raised its stake in shares of M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after purchasing an additional 44,442 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of M&T Bank by 3.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock worth $211,631,000 after purchasing an additional 43,795 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after buying an additional 319,051 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

MTB has been the topic of several recent research reports. Evercore ISI upped their price target on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group boosted their price target on M&T Bank from $190.00 to $216.00 and gave the company a “neutral” rating in a 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 for the company in a report on Friday, October 4th. Finally, Wells Fargo & Company boosted their target price on shares of M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, M&T Bank currently has an average rating of “Hold” and an average target price of $199.65.

Insider Buying and Selling at M&T Bank

In related news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the sale, the director now directly owns 20,414 shares of the company’s stock, valued at $502,184.40. This trade represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John R. Taylor sold 1,436 shares of the business’s stock in a transaction on Monday, October 28th. The shares were 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 $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. In the last ninety days, insiders have sold 72,854 shares of company stock worth $13,637,588. 0.82% of the stock is currently owned by insiders.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $214.74 on Friday. The firm’s fifty day simple moving average is $187.11 and its 200-day simple moving average is $167.05. M&T Bank Co. has a 12 month low of $123.37 and a 12 month high of $216.84. The stock has a market capitalization of $35.63 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 2.98 and a beta of 0.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. As a group, equities analysts forecast 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.51%. M&T Bank’s payout ratio is 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.