Integrated Wealth Concepts LLC Cuts Stake in M&T Bank Corporation $MTB

Key Points

• Integrated Wealth Concepts LLC reduced its stake in M&T Bank Corporation by 17.4%, owning 7,515 shares after selling 1,578 shares during the first quarter.
• M&T Bank recently announced a quarterly dividend increase from $1.35 to $1.50, indicating a strong return for shareholders with a yield of 3.0%.
• The company's stock price was down 0.8%, with a 52-week range between $150.75 and $225.70, and it reported earnings of $4.28 per share for the last quarter, exceeding expectations.

Integrated Wealth Concepts LLC reduced its stake in M&T Bank Corporation (NYSE:MTB - Free Report) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,515 shares of the financial services provider's stock after selling 1,578 shares during the period. Integrated Wealth Concepts LLC's holdings in M&T Bank were worth $1,343,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MTB. Baird Financial Group Inc. grew its stake in shares of M&T Bank by 2.7% in the fourth quarter. Baird Financial Group Inc. now owns 4,378 shares of the financial services provider's stock worth $823,000 after acquiring an additional 114 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of M&T Bank by 17.8% in the fourth quarter. Captrust Financial Advisors now owns 9,141 shares of the financial services provider's stock worth $1,719,000 after acquiring an additional 1,380 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of M&T Bank by 8.7% in the fourth quarter. Cetera Investment Advisers now owns 31,714 shares of the financial services provider's stock worth $5,963,000 after acquiring an additional 2,526 shares during the last quarter. Focus Partners Wealth grew its stake in shares of M&T Bank by 379.9% in the fourth quarter. Focus Partners Wealth now owns 18,144 shares of the financial services provider's stock worth $3,412,000 after acquiring an additional 14,363 shares during the last quarter. Finally, Gotham Asset Management LLC lifted its holdings in shares of M&T Bank by 43.0% during the fourth quarter. Gotham Asset Management LLC now owns 3,403 shares of the financial services provider's stock valued at $640,000 after purchasing an additional 1,023 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Down 0.8%

MTB stock opened at $198.12 on Thursday. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $225.70. The business's 50-day moving average is $195.64 and its two-hundred day moving average is $183.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $30.96 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 0.98 and a beta of 0.67.

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

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be issued a $1.50 dividend. This is a positive change from M&T Bank's previous quarterly dividend of $1.35. This represents a $6.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. M&T Bank's dividend payout ratio is currently 38.86%.

Insider Transactions at M&T Bank

In other news, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $197.48, for a total value of $252,181.96. Following the transaction, the director owned 4,881 shares of the company's stock, valued at $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter D'arcy sold 2,461 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total value of $485,579.91. Following the completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at $1,838,731.89. This trade represents a 20.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,738 shares of company stock valued at $3,734,612 over the last quarter. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MTB. Cowen began coverage on M&T Bank in a report on Wednesday, May 14th. They set a "buy" rating on the stock. TD Cowen began coverage on M&T Bank in a report on Thursday, May 15th. They set a "buy" rating and a $230.00 price target on the stock. Morgan Stanley upped their price target on M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Cantor Fitzgerald began coverage on M&T Bank in a report on Wednesday. They set an "overweight" rating and a $228.00 price target on the stock. Finally, Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Fourteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, M&T Bank has an average rating of "Moderate Buy" and an average price target of $214.31.

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.

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