M&T Bank Co. (NYSE:MTB) Shares Sold by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. cut its holdings in M&T Bank Co. (NYSE:MTB) by 9.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,254 shares of the financial services provider’s stock after selling 3,556 shares during the period. Harvest Portfolios Group Inc.’s holdings in M&T Bank were worth $6,279,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Hedeker Wealth LLC raised its position in 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 period. Frank Rimerman Advisors LLC grew its stake 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 valued at $1,005,000 after acquiring an additional 57 shares in the last quarter. Crestwood Advisors Group LLC increased its holdings 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 purchasing an additional 57 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of 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 purchasing an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. lifted its position in shares of 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 purchasing an additional 69 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 6.5 %

Shares of M&T Bank stock opened at $205.75 on Wednesday. M&T Bank Co. has a 12-month low of $115.93 and a 12-month high of $205.75. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average price of $180.28 and a two-hundred day moving average price of $163.61. The stock has a market capitalization of $34.33 billion, a P/E ratio of 14.30, a PEG ratio of 2.72 and a beta of 0.74.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 39.97%.

Analyst Ratings Changes

Several research firms have weighed in on MTB. Citigroup upped their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. DA Davidson upped their price target on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Wells Fargo & Company lifted their price objective on M&T Bank from $165.00 to $190.00 and gave the company an “underweight” rating in a research 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 target price on the stock in a research note on Friday, October 4th. Finally, The Goldman Sachs Group raised their price target on M&T Bank from $190.00 to $216.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and a consensus price target of $198.76.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 2,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total transaction of $396,000.00. Following the completion of the transaction, the director now owns 29,796 shares of the company’s stock, valued at $5,899,608. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, Director Robert E. Sadler, Jr. sold 2,000 shares of M&T Bank stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total value of $396,000.00. Following the transaction, the director now directly owns 29,796 shares of the company’s stock, valued at $5,899,608. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the company’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 transaction, the insider now owns 40,502 shares of the company’s stock, valued at approximately $7,933,531.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,734 shares of company stock worth $14,055,727. 0.82% of the stock is owned by insiders.

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.