Vise Technologies Inc. Buys 2,840 Shares of M&T Bank Corporation $MTB

Vise Technologies Inc. raised its stake in shares of M&T Bank Corporation (NYSE:MTB) by 45.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,037 shares of the financial services provider’s stock after acquiring an additional 2,840 shares during the quarter. Vise Technologies Inc.’s holdings in M&T Bank were worth $1,967,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. First Bancorp Inc ME acquired a new stake in shares of M&T Bank in the 2nd quarter valued at about $25,000. Bogart Wealth LLC lifted its position in shares of M&T Bank by 233.3% during the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 84 shares during the last quarter. John Boyer Inc. acquired a new position in M&T Bank in the third quarter worth about $29,000. NBH Bank acquired a new position in M&T Bank in the second quarter worth about $51,000. Finally, FNY Investment Advisers LLC bought a new stake in M&T Bank in the second quarter valued at about $51,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO René Jones sold 19,396 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the transaction, the chief executive officer directly owned 103,831 shares of the company’s stock, valued at $24,851,949.85. The trade was a 15.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the sale, the director owned 3,649 shares in the company, valued at approximately $879,554.96. This trade represents a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MTB. Morgan Stanley dropped their target price on shares of M&T Bank from $301.00 to $294.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Raymond James Financial initiated coverage on shares of M&T Bank in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $250.00 price target for the company. TD Cowen started coverage on shares of M&T Bank in a research note on Thursday, October 8th. They issued a “hold” rating and a $245.00 price objective for the company. Evercore set a $230.00 price objective on shares of M&T Bank in a research report on Thursday, October 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of M&T Bank in a research note on Tuesday, September 1st. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell 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 $244.89.

M&T Bank Stock Down 2.2%

Shares of MTB stock opened at $219.80 on Friday. The stock’s 50 day simple moving average is $224.76 and its 200 day simple moving average is $225.26. M&T Bank Corporation has a twelve month low of $179.75 and a twelve month high of $255.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $31.74 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.30 and a beta of 0.64.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Friday, October 16th. The financial services provider reported $5.08 EPS for the quarter, topping analysts’ consensus estimates of $4.93 by $0.15. M&T Bank had a net margin of 22.63% and a return on equity of 11.86%. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter last year, the company earned $4.82 earnings per share. As a group, research analysts predict that M&T Bank Corporation will post 19.48 EPS for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. M&T Bank’s dividend payout ratio (DPR) is presently 31.32%.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, M&T Bank, was founded in 1856 and provides financial products and services to individuals, businesses and institutions.

The company’s offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, credit cards, treasury management and other banking services. Through its wealth management and institutional businesses, including Wilmington Trust, M&T also provides investment management, fiduciary, trust, estate planning and related corporate services.

M&T Bank serves customers through branch locations and digital banking channels in several states, primarily across the Mid-Atlantic and Northeast, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and the District of Columbia.