M&T Bank Co. (NYSE:MTB) Shares Bought by Farrell Financial LLC

Farrell Financial LLC grew its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 158.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,101 shares of the financial services provider's stock after acquiring an additional 1,901 shares during the period. Farrell Financial LLC's holdings in M&T Bank were worth $554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in MTB. US Bancorp DE increased its holdings in shares of M&T Bank by 24.3% in the fourth 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 during the last quarter. Summit Trail Advisors LLC bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $290,000. Valeo Financial Advisors LLC bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $297,000. Van ECK Associates Corp grew its stake in M&T Bank by 1,262.9% in the fourth quarter. Van ECK Associates Corp now owns 22,175 shares of the financial services provider's stock worth $4,169,000 after purchasing an additional 20,548 shares in the last quarter. Finally, Citizens & Northern Corp bought a new position in M&T Bank in the fourth quarter worth approximately $523,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MTB has been the topic of several research analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 price objective on shares of M&T Bank in a research note on Monday, May 19th. Cowen began coverage on M&T Bank in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Citigroup dropped their target price on M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. JPMorgan Chase & Co. dropped their target price on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Finally, Truist Financial cut their target price on M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One equities 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $212.53.

M&T Bank Stock Down 3.3%

Shares of MTB traded down $6.14 during midday trading on Friday, hitting $177.85. 1,301,595 shares of the company's stock traded hands, compared to its average volume of 1,166,523. M&T Bank Co. has a 1 year low of $141.14 and a 1 year high of $225.70. The firm's fifty day moving average is $174.73 and its 200-day moving average is $185.08. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $28.55 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62.

M&T Bank (NYSE:MTB - Get Free Report) last issued 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 firm had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter last year, the business earned $3.09 EPS. As a group, sell-side analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be paid a $1.35 dividend. The ex-dividend date is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 3.04%. M&T Bank's dividend payout ratio (DPR) is 36.17%.

About M&T Bank

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.