Concurrent Investment Advisors LLC Acquires Shares of 1,258 M&T Bank Corporation (NYSE:MTB)

Concurrent Investment Advisors LLC acquired a new stake in M&T Bank Corporation (NYSE:MTB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,258 shares of the financial services provider's stock, valued at approximately $225,000.

Several other large investors also recently bought and sold shares of MTB. Proficio Capital Partners LLC acquired a new stake in M&T Bank in the fourth quarter valued at approximately $20,791,000. Raymond James Financial Inc. acquired a new stake in M&T Bank in the fourth quarter valued at approximately $21,783,000. Independent Advisor Alliance grew its position in M&T Bank by 29.9% in the fourth quarter. Independent Advisor Alliance now owns 2,077 shares of the financial services provider's stock valued at $391,000 after acquiring an additional 478 shares in the last quarter. HighTower Advisors LLC grew its position in M&T Bank by 1.9% in the fourth quarter. HighTower Advisors LLC now owns 53,479 shares of the financial services provider's stock valued at $10,055,000 after acquiring an additional 972 shares in the last quarter. Finally, Wellington Shields & Co. LLC grew its position in M&T Bank by 5.2% in the fourth quarter. Wellington Shields & Co. LLC now owns 1,966 shares of the financial services provider's stock valued at $370,000 after acquiring an additional 98 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company's stock.

M&T Bank Stock Performance

MTB stock opened at $201.67 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $32.37 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.46 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 stock's fifty day moving average is $186.49 and its two-hundred day moving average is $184.07.

M&T Bank (NYSE:MTB - Get Free Report) last posted its 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). The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business posted $3.09 earnings per share. On average, research analysts predict 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. Shareholders of record on Monday, June 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Monday, June 2nd. M&T Bank's payout ratio is 36.17%.

Analyst Ratings Changes

MTB has been the subject of a number of research analyst reports. Cowen initiated coverage on shares of M&T Bank in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. DA Davidson dropped their price target on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. TD Cowen initiated coverage on shares of M&T Bank in a research note on Thursday, May 15th. They issued a "buy" rating and a $230.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Finally, Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.48.

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.

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