Bryn Mawr Capital Management LLC Makes New Investment in M&T Bank Corporation (NYSE:MTB)

Bryn Mawr Capital Management LLC acquired a new position in M&T Bank Corporation (NYSE:MTB - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,319 shares of the financial services provider's stock, valued at approximately $236,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wood Tarver Financial Group LLC purchased a new position in shares of M&T Bank in the fourth quarter worth about $29,000. Banque Transatlantique SA purchased a new position in shares of M&T Bank in the fourth quarter worth about $38,000. Grove Bank & Trust increased its holdings in shares of M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock worth $40,000 after buying an additional 114 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of M&T Bank in the first quarter worth about $46,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of M&T Bank in the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the sale, the director directly owned 23,070 shares in the company, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company's stock.

M&T Bank Price Performance

Shares of MTB stock traded up $3.18 on Thursday, reaching $195.70. 1,751,627 shares of the company were exchanged, compared to its average volume of 1,206,042. The company has a market cap of $31.41 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 1.37 and a beta of 0.63. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70. The business has a 50-day moving average price of $187.89 and a 200 day moving average price of $184.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.91.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates 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 in the previous year, the business posted $3.73 earnings per share. Equities research analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a $1.35 dividend. The ex-dividend date was Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.76%. M&T Bank's payout ratio is 36.17%.

Analysts Set New Price Targets

MTB has been the topic of several recent analyst reports. Citigroup raised their target price on M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Truist Financial dropped their price target on M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. DA Davidson boosted their price objective on shares of M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a report on Thursday. TD Cowen assumed coverage on shares of M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $212.88.

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.