Resurgent Financial Advisors LLC Purchases 374 Shares of M&T Bank Co. (NYSE:MTB)

Resurgent Financial Advisors LLC grew its position in M&T Bank Co. (NYSE:MTB) by 16.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,656 shares of the financial services provider’s stock after acquiring an additional 374 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in M&T Bank were worth $473,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MTB. Hedeker Wealth LLC lifted its position in shares of M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider’s stock worth $627,000 after buying an additional 55 shares during the period. Frank Rimerman Advisors LLC lifted its position in shares of 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 worth $1,005,000 after buying an additional 57 shares during the period. Crestwood Advisors Group LLC lifted its position in shares of M&T Bank by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after buying an additional 57 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of M&T Bank by 54.4% during 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 period. Finally, Meitav Investment House Ltd. lifted its position in shares of M&T Bank by 3.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider’s stock worth $386,000 after buying an additional 69 shares during the period. Institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

MTB has been the subject of several analyst reports. Bank of America raised their target price on M&T Bank from $188.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company raised their price target on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. The Goldman Sachs Group raised their price target on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods raised their price target on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Royal Bank of Canada raised their price target on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and a consensus price target of $209.32.

Insiders Place Their Bets

In other news, CEO Rene F. Jones sold 23,071 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was 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 directly owns 77,226 shares in the company, valued at $14,972,576.88. The trade was a 23.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Tracy S. Woodrow sold 2,121 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total value of $468,210.75. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,504 shares of company stock worth $16,673,712. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Stock Down 1.1 %

NYSE:MTB opened at $211.88 on Thursday. M&T Bank Co. has a 12-month low of $128.31 and a 12-month high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $35.16 billion, a P/E ratio of 15.68, a P/E/G ratio of 3.04 and a beta of 0.76. The stock’s fifty day simple moving average is $198.79 and its 200-day simple moving average is $173.23.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.48. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.30 billion. Equities research analysts expect that M&T Bank Co. will post 14.57 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.55%. M&T Bank’s dividend payout ratio is presently 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.