Impact Partnership Wealth LLC Takes $477,000 Position in M&T Bank Corporation (NYSE:MTB)

Impact Partnership Wealth LLC bought a new position in M&T Bank Corporation (NYSE:MTB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,668 shares of the financial services provider's stock, valued at approximately $477,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in shares of M&T Bank by 14.3% in the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after acquiring an additional 1,761,014 shares during the last quarter. Norges Bank bought a new position in M&T Bank in the 4th quarter valued at about $317,690,000. GAMMA Investing LLC grew its stake in shares of M&T Bank by 18,471.2% during the first quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider's stock worth $126,145,000 after buying an additional 701,905 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in M&T Bank by 22.3% during the 4th quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock worth $294,662,000 after acquiring an additional 286,049 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in M&T Bank during the 4th quarter worth about $48,939,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of recent research reports. Citigroup boosted their price target on shares of M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada restated an "outperform" rating and issued a $200.00 target price on shares of M&T Bank in a report on Monday, May 19th. Barclays cut their price target on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company increased their price objective on M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a research note on Thursday. Finally, Jefferies Financial Group set a $225.00 price target on shares of M&T Bank and gave the stock a "buy" rating in a report on Wednesday, May 21st. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $212.88.

Insider Transactions at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction dated 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 of the company's stock, valued at approximately $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The sale 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

Shares of MTB stock traded up $0.55 on Friday, reaching $196.15. The stock had a trading volume of 1,191,662 shares, compared to its average volume of 1,201,487. 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 Corporation has a 1 year low of $150.75 and a 1 year high of $225.70. The stock has a market cap of $31.49 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.38 and a beta of 0.63. The company has a 50 day simple moving average of $188.64 and a 200 day simple moving average of $184.34.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.04 by $0.24. The business had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same quarter last year, the company posted $3.73 EPS. Equities research analysts expect that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank's dividend payout ratio is currently 34.97%.

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.