A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTB. Doyle Wealth Management acquired a new stake in M&T Bank during the fourth quarter valued at $29,000. Financial Gravity Companies Inc. acquired a new stake in M&T Bank during the fourth quarter valued at $30,000. Lindbrook Capital LLC acquired a new stake in M&T Bank during the fourth quarter valued at $47,000. IFP Advisors Inc boosted its position in M&T Bank by 21.9% during the fourth quarter. IFP Advisors Inc now owns 351 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 63 shares during the last quarter. Finally, First Mercantile Trust Co. boosted its position in M&T Bank by 49.0% during the fourth quarter. First Mercantile Trust Co. now owns 626 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 206 shares during the last quarter. 78.95% of the stock is owned by hedge funds and other institutional investors.
Advisor Group Inc. boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,404 shares of the financial services provider’s stock after purchasing an additional 605 shares during the period. Advisor Group Inc.’s holdings in M&T Bank were worth $1,204,000 at the end of the most recent reporting period.
NYSE MTB opened at $172.17 on Thursday. M&T Bank Co. has a fifty-two week low of $133.78 and a fifty-two week high of $194.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $23.59 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 0.88 and a beta of 1.07.
M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 17th. The financial services provider reported $3.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.49 by $0.27. M&T Bank had a return on equity of 14.24% and a net margin of 29.72%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $2.66 earnings per share. Analysts anticipate that M&T Bank Co. will post 14.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 4th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, March 1st. This represents a $4.00 annualized dividend and a yield of 2.32%. M&T Bank’s dividend payout ratio (DPR) is currently 31.10%.
A number of research firms recently issued reports on MTB. Zacks Investment Research raised M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 price objective for the company in a research report on Friday, January 18th. ValuEngine cut M&T Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. Barclays restated a “buy” rating and set a $207.00 target price on shares of M&T Bank in a report on Thursday, February 21st. Robert W. Baird lowered M&T Bank from an “outperform” rating to a “neutral” rating and set a $175.00 target price on the stock. in a report on Thursday, February 21st. Finally, Wedbush set a $165.00 target price on M&T Bank and gave the company a “hold” rating in a report on Friday, January 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $180.27.
In other news, Director Gary N. Geisel sold 1,001 shares of M&T Bank stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.00, for a total value of $173,173.00. Following the transaction, the director now directly owns 17,512 shares in the company, valued at $3,029,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Darren J. King sold 10,000 shares of M&T Bank stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $164.56, for a total value of $1,645,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,766 shares of company stock worth $2,111,968. Corporate insiders own 0.54% of the company’s stock.
M&T Bank Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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