Beese Fulmer Investment Management Inc. Buys Shares of 1,738 M&T Bank Co. (NYSE:MTB)

Beese Fulmer Investment Management Inc. acquired a new position in M&T Bank Co. (NYSE:MTB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,738 shares of the financial services provider's stock, valued at approximately $311,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wood Tarver Financial Group LLC purchased a new position in shares of M&T Bank during the fourth quarter worth about $29,000. Banque Transatlantique SA bought a new position in M&T Bank during the 4th quarter valued at approximately $38,000. Y.D. More Investments Ltd increased its position in M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 114 shares during the period. Human Investing LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at about $44,000. Finally, Sierra Ocean LLC purchased a new stake in M&T Bank in the fourth quarter worth about $44,000. Institutional investors own 84.68% of the company's stock.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company's stock.

M&T Bank Stock Up 1.5%

Shares of NYSE MTB traded up $2.71 during midday trading on Tuesday, hitting $182.75. The company's stock had a trading volume of 1,060,709 shares, compared to its average volume of 1,155,105. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The firm has a market capitalization of $29.33 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The business's fifty day simple moving average is $172.34 and its two-hundred day simple moving average is $187.32. M&T Bank Co. has a 1 year low of $139.78 and a 1 year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business earned $3.09 EPS. On average, equities analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Monday, June 2nd. M&T Bank's dividend payout ratio (DPR) is 36.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price objective on shares of M&T Bank in a report on Monday, May 19th. 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 report on Thursday, April 24th. Wall Street Zen raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Wells Fargo & Company decreased their target price on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.53.

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.