Lesa Sroufe & Co Acquires Shares of 22,853 M&T Bank Co. (NYSE:MTB)

Lesa Sroufe & Co purchased a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,853 shares of the financial services provider's stock, valued at approximately $4,085,000. M&T Bank makes up 4.1% of Lesa Sroufe & Co's holdings, making the stock its 6th largest holding.

Several other institutional investors also recently modified their holdings of MTB. US Bancorp DE increased its holdings in 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 valued at $1,576,000 after purchasing an additional 1,639 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of M&T Bank during the 4th quarter worth about $297,000. Van ECK Associates Corp boosted its position in shares of M&T Bank by 1,262.9% during the 4th 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. Citizens & Northern Corp bought a new position in shares of M&T Bank during the 4th quarter worth about $523,000. Finally, American Century Companies Inc. raised its holdings in shares of M&T Bank by 0.9% in the 4th quarter. American Century Companies Inc. now owns 67,987 shares of the financial services provider's stock worth $12,782,000 after acquiring an additional 610 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MTB shares. DA Davidson lowered their target price on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Barclays decreased their price target on shares of 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. Morgan Stanley reduced their price objective on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Truist Financial cut their price target on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a report 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $212.53.

M&T Bank Stock Performance

M&T Bank stock opened at $180.21 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $28.93 billion, a PE ratio of 12.32, a P/E/G ratio of 1.38 and a beta of 0.62. The firm has a fifty day simple moving average of $175.21 and a two-hundred day simple moving average of $184.80. M&T Bank Co. has a twelve month low of $141.14 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data 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). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The firm had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter in the previous year, the firm posted $3.09 EPS. Research analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Monday, June 2nd. M&T Bank's dividend payout ratio is currently 36.17%.

Insider Activity at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the business's stock in a transaction dated 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 transaction, the director now owns 23,070 shares in the company, valued at $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.

M&T Bank 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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