Duality Advisers LP acquired a new position in M&T Bank Co. (NYSE:MTB) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 34,260 shares of the financial services provider’s stock, valued at approximately $5,380,000.
Other institutional investors have also modified their holdings of the company. Doyle Wealth Management purchased a new position in M&T Bank in the fourth quarter worth approximately $29,000. Financial Gravity Companies Inc. purchased a new position in M&T Bank in the fourth quarter worth approximately $30,000. JOYN Advisors Inc. grew its position in M&T Bank by 141.4% in the fourth quarter. JOYN Advisors Inc. now owns 239 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 140 shares during the period. Liberty Wealth Management LLC grew its position in M&T Bank by 972.7% in the first quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 214 shares during the period. Finally, Pearl River Capital LLC purchased a new position in M&T Bank in the first quarter worth approximately $42,000. Institutional investors own 81.59% of the company’s stock.
Several brokerages recently weighed in on MTB. Robert W. Baird lowered M&T Bank from an “outperform” rating to a “neutral” rating and set a $175.00 price objective for the company. in a research report on Thursday, February 21st. Citigroup increased their price objective on M&T Bank from $162.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. ValuEngine upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Barclays reiterated a “buy” rating and issued a $207.00 price objective on shares of M&T Bank in a research report on Thursday, February 21st. Finally, Wedbush increased their price objective on M&T Bank from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $179.25.
NYSE:MTB opened at $165.76 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.06. M&T Bank Co. has a 52 week low of $133.78 and a 52 week high of $180.77. The firm has a market cap of $22.80 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.52 and a beta of 1.07.
M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.05. M&T Bank had a return on equity of 14.46% and a net margin of 30.84%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the firm earned $2.23 earnings per share. As a group, analysts anticipate that M&T Bank Co. will post 14.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Friday, May 31st. M&T Bank’s dividend payout ratio (DPR) is 31.10%.
In other news, VP Michele D. Trolli sold 5,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $173.14, for a total value of $865,700.00. Following the sale, the vice president now directly owns 10,878 shares in the company, valued at $1,883,416.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Doris P. Meister sold 460 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $160.29, for a total value of $73,733.40. Following the completion of the sale, the insider now owns 1,553 shares in the company, valued at $248,930.37. The disclosure for this sale can be found here. Insiders have sold 14,521 shares of company stock worth $2,460,209 over the last 90 days. 0.54% of the stock is owned by insiders.
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About M&T Bank
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.
Further Reading: Capital gains and your 401(k) or IRA
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