Hennion & Walsh Asset Management Inc. Has $1.67 Million Holdings in M&T Bank Co. (NYSE:MTB)

Hennion & Walsh Asset Management Inc. increased its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,321 shares of the financial services provider's stock after buying an additional 1,486 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in M&T Bank were worth $1,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wood Tarver Financial Group LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth about $29,000. Banque Transatlantique SA purchased a new stake in M&T Bank during the fourth quarter worth $38,000. Y.D. More Investments Ltd lifted its position in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC purchased a new position in M&T Bank during the fourth quarter worth about $44,000. Finally, Sierra Ocean LLC acquired a new stake in M&T Bank during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Analysts Set New Price Targets

MTB has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price objective on shares of M&T Bank in a research note on Monday, May 19th. Wells Fargo & Company decreased their target price on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft raised M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price objective for the company in a research report on Thursday, April 24th. Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Morgan Stanley lowered their price target on M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $212.53.

M&T Bank Price Performance

Shares of NYSE MTB traded up $4.30 during midday trading on Friday, reaching $184.21. The company's stock had a trading volume of 958,528 shares, compared to its average volume of 1,161,087. M&T Bank Co. has a fifty-two week low of $139.78 and a fifty-two week high of $225.70. The company has a market cap of $29.57 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The business's 50 day moving average price is $172.52 and its two-hundred day moving average price is $187.00.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the prior year, the firm earned $3.09 earnings per share. On average, analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.93%. M&T Bank's dividend payout ratio is 36.17%.

Insider Buying and Selling

In other M&T Bank 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 transaction of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by insiders.

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.