Janney Montgomery Scott LLC Increases Stock Holdings in M&T Bank Corporation (NYSE:MTB)

Janney Montgomery Scott LLC lifted its stake in M&T Bank Corporation (NYSE:MTB - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,078 shares of the financial services provider's stock after purchasing an additional 1,605 shares during the quarter. Janney Montgomery Scott LLC owned about 0.05% of M&T Bank worth $15,386,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new position in shares of M&T Bank in the fourth quarter worth $29,000. Banque Transatlantique SA purchased a new position in M&T Bank in the 4th quarter worth $38,000. Loomis Sayles & Co. L P purchased a new position in M&T Bank in the 4th quarter worth $52,000. Investors Research Corp raised its stake in M&T Bank by 31.1% in the 1st quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock worth $53,000 after acquiring an additional 70 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its stake in M&T Bank by 1,033.3% in the 1st quarter. AdvisorNet Financial Inc now owns 374 shares of the financial services provider's stock worth $67,000 after acquiring an additional 341 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the sale, the director now owns 23,070 shares of the company's stock, valued at $4,233,806.40. This represents a 22.51% 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. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

MTB has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Royal Bank Of Canada reissued an "outperform" rating and set a $200.00 price target on shares of M&T Bank in a research report on Monday, May 19th. Jefferies Financial Group set a $225.00 price target on shares of M&T Bank and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Citigroup reduced their target price on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 target price for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, M&T Bank currently has an average rating of "Moderate Buy" and a consensus price target of $210.63.

M&T Bank Price Performance

Shares of M&T Bank stock traded up $3.04 on Friday, hitting $184.74. The company's stock had a trading volume of 3,680,780 shares, compared to its average volume of 1,180,545. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 0.97. M&T Bank Corporation has a 1 year low of $145.82 and a 1 year high of $225.70. The firm has a fifty day moving average price of $176.69 and a 200-day moving average price of $184.10. The company has a market capitalization of $29.65 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.34 and a beta of 0.62.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results 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 company 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 10.18% and a net margin of 19.86%. During the same period in the previous year, the firm posted $3.09 EPS. As a group, sell-side analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a dividend of $1.35 per share. The ex-dividend date is Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 2.92%. M&T Bank's dividend payout ratio (DPR) is currently 36.17%.

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.