AssuredPartners Investment Advisors LLC Invests $238,000 in M&T Bank Corporation (NYSE:MTB)

AssuredPartners Investment Advisors LLC bought a new position in M&T Bank Corporation (NYSE:MTB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,329 shares of the financial services provider's stock, valued at approximately $238,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its stake in shares of M&T Bank by 5.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 69,828 shares of the financial services provider's stock worth $12,482,000 after purchasing an additional 3,683 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of M&T Bank by 1.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 101,911 shares of the financial services provider's stock worth $18,217,000 after purchasing an additional 1,353 shares in the last quarter. Dopkins Wealth Management LLC grew its holdings in shares of M&T Bank by 4.6% in the first quarter. Dopkins Wealth Management LLC now owns 6,237 shares of the financial services provider's stock valued at $1,115,000 after purchasing an additional 273 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in M&T Bank by 4.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 22,629 shares of the financial services provider's stock worth $4,045,000 after purchasing an additional 936 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in M&T Bank by 4.8% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,832 shares of the financial services provider's stock valued at $864,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Price Performance

NYSE MTB traded up $2.39 during midday trading on Thursday, hitting $193.62. The company had a trading volume of 977,584 shares, compared to its average volume of 1,182,005. The firm has a 50-day moving average price of $178.57 and a 200-day moving average price of $183.84. The company has a market capitalization of $31.08 billion, a PE ratio of 12.97, a P/E/G ratio of 1.38 and a beta of 0.62. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. M&T Bank Corporation has a twelve month low of $145.82 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. The business had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the business posted $3.09 earnings per share. As a group, analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank's payout ratio is 36.17%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MTB shares. Morgan Stanley increased their target price on shares of M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Robert W. Baird cut their target price 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. Deutsche Bank Aktiengesellschaft raised M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target for the company in a research note on Thursday, April 24th. Barclays decreased their price objective on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their price target on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $210.88.

Insider Activity at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the transaction, the director now directly owns 23,070 shares in the company, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

M&T Bank 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.