MML Investors Services LLC raised its holdings in M&T Bank Co. (NYSE:MTB) by 80.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 11,700 shares of the financial services provider’s stock after acquiring an additional 5,211 shares during the quarter. MML Investors Services LLC’s holdings in M&T Bank were worth $1,837,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of MTB. Doyle Wealth Management acquired a new stake in M&T Bank in the 4th quarter valued at $29,000. Financial Gravity Companies Inc. acquired a new stake in M&T Bank in the 4th quarter valued at $30,000. JOYN Advisors Inc. grew its position in shares of M&T Bank by 141.4% in the 4th quarter. JOYN Advisors Inc. now owns 239 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 140 shares during the period. Liberty Wealth Management LLC grew its position in shares of M&T Bank by 972.7% in the 1st quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 214 shares during the period. Finally, Pearl River Capital LLC bought a new position in shares of M&T Bank in the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 81.60% of the company’s stock.
Shares of MTB stock opened at $165.76 on Monday. The stock has a market cap of $22.65 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.51 and a beta of 1.06. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.59. M&T Bank Co. has a 52 week low of $133.78 and a 52 week high of $180.77.
M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.35 EPS for the quarter, topping the consensus estimate of $3.30 by $0.05. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.51 billion. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. During the same quarter in the previous year, the firm posted $2.23 EPS. On average, research analysts forecast that M&T Bank Co. will post 14.63 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Friday, May 31st. M&T Bank’s payout ratio is 31.10%.
A number of research analysts have recently commented on the stock. Wedbush lifted their price objective on shares of M&T Bank from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Barclays lifted their price objective on shares of M&T Bank from $207.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. ValuEngine downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. UBS Group set a $169.00 target price on shares of M&T Bank and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Finally, Zacks Investment Research downgraded shares of M&T Bank from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $179.25.
In other M&T Bank news, VP Michele D. Trolli sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $173.14, for a total value of $865,700.00. Following the completion of the sale, the vice president now owns 10,878 shares of the company’s stock, valued at approximately $1,883,416.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian E. Hickey sold 4,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $168.53, for a total transaction of $674,120.00. Following the completion of the sale, the insider now directly owns 17,819 shares of the company’s stock, valued at approximately $3,003,036.07. The disclosure for this sale can be found here. Insiders have sold a total of 14,521 shares of company stock valued at $2,460,209 in the last ninety days. 0.54% of the stock is currently 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.
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