Buffington Mohr McNeal Has $331,000 Holdings in M&T Bank Corporation (NYSE:MTB)

Buffington Mohr McNeal lowered its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 44.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,850 shares of the financial services provider's stock after selling 1,500 shares during the quarter. Buffington Mohr McNeal's holdings in M&T Bank were worth $331,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its position in M&T Bank by 53.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider's stock worth $94,000 after acquiring an additional 184 shares during the last quarter. US Bancorp DE raised its stake in shares of M&T Bank by 24.3% during the 4th quarter. US Bancorp DE now owns 8,382 shares of the financial services provider's stock worth $1,576,000 after purchasing an additional 1,639 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake 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 in the last quarter. American Century Companies Inc. raised its stake in shares of M&T Bank by 0.9% during the 4th quarter. American Century Companies Inc. now owns 67,987 shares of the financial services provider's stock worth $12,782,000 after purchasing an additional 610 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of M&T Bank during the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barclays dropped their price objective on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Jefferies Financial Group set a $225.00 price objective on M&T Bank and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Morgan Stanley upped their price objective on M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Finally, Cowen started coverage on M&T Bank in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of "Moderate Buy" and a consensus price target of $211.48.

Insider Activity

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction 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 sale, the director directly owned 23,070 shares of the company's stock, valued at approximately $4,233,806.40. This represents a 22.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.53% of the company's stock.

M&T Bank Stock Performance

NYSE MTB traded up $2.52 on Friday, reaching $202.58. The stock had a trading volume of 838,320 shares, compared to its average volume of 1,189,187. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a fifty day moving average of $183.43 and a two-hundred day moving average of $183.63. M&T Bank Corporation has a 1-year low of $146.71 and a 1-year high of $225.70. The company has a market cap of $32.52 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. During the same period in the prior year, the company earned $3.09 earnings per share. On average, equities research analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Monday, June 2nd. M&T Bank's dividend payout ratio (DPR) is currently 36.17%.

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.