Angel Oak Capital Advisors LLC Makes New Investment in M&T Bank Corporation (NYSE:MTB)

Key Points

• Angel Oak Capital Advisors LLC has invested approximately $715,000 to acquire 4,000 shares in M&T Bank Corporation, making it the 22nd largest holding within their portfolio.
• M&T Bank recently announced a quarterly dividend of $1.35 per share, representing a 2.9% dividend yield and a dividend payout ratio of 34.97%.
• Analysts have a consensus average rating of "Moderate Buy" for M&T Bank's stock, with a target price of $212.88, following mixed ratings from several financial institutions.

Angel Oak Capital Advisors LLC acquired a new stake in shares of M&T Bank Corporation (NYSE:MTB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,000 shares of the financial services provider's stock, valued at approximately $715,000. M&T Bank makes up 1.0% of Angel Oak Capital Advisors LLC's investment portfolio, making the stock its 22nd largest position.

Other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in M&T Bank by 53.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 184 shares in the last quarter. Private Trust Co. NA lifted its stake in M&T Bank by 16.5% in the 1st quarter. Private Trust Co. NA now owns 644 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 91 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of M&T Bank during the 1st quarter worth approximately $225,000. Kingswood Wealth Advisors LLC increased its position in shares of M&T Bank by 4.4% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,076 shares of the financial services provider's stock worth $370,000 after purchasing an additional 88 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of M&T Bank during the 1st quarter worth approximately $46,000. Institutional investors own 84.68% of the company's stock.

Insider Activity at M&T Bank

In other news, EVP Peter D'arcy sold 2,461 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total value of $485,579.91. Following the completion of the transaction, the executive vice president owned 9,319 shares of the company's stock, valued at $1,838,731.89. The trade was a 20.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $197.48, for a total transaction of $252,181.96. Following the transaction, the director directly owned 4,881 shares of the company's stock, valued at $963,899.88. This trade represents a 20.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,438 shares of company stock valued at $1,967,346. 0.53% of the stock is owned by corporate insiders.

M&T Bank Stock Down 0.4%

M&T Bank stock traded down $0.74 during mid-day trading on Monday, reaching $186.43. 942,876 shares of the company's stock were exchanged, compared to its average volume of 1,125,257. The company has a market cap of $29.13 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.92 and a beta of 0.63. M&T Bank Corporation has a twelve month low of $150.75 and a twelve month high of $225.70. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $190.77 and a 200-day moving average of $183.95.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping the consensus estimate of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the business earned $3.73 EPS. Sell-side analysts expect that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.9%. M&T Bank's dividend payout ratio is presently 34.97%.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of research reports. TD Cowen initiated coverage on M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 price objective on the stock. DA Davidson upped their target price on M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Robert W. Baird dropped their price objective on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of M&T Bank in a research report on Monday, May 19th. Finally, Morgan Stanley increased their price target on M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $212.88.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.