Means Investment CO. Inc. Purchases 3,672 Shares of M&T Bank Corporation (NYSE:MTB)

Means Investment CO. Inc. raised its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 89.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,800 shares of the financial services provider's stock after buying an additional 3,672 shares during the period. Means Investment CO. Inc.'s holdings in M&T Bank were worth $1,394,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in M&T Bank by 14.4% during the 1st quarter. Blue Trust Inc. now owns 1,834 shares of the financial services provider's stock valued at $328,000 after buying an additional 231 shares during the period. ORG Wealth Partners LLC purchased a new stake in M&T Bank during the 1st quarter valued at $92,000. Envestnet Portfolio Solutions Inc. boosted its position in M&T Bank by 3.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,250 shares of the financial services provider's stock valued at $581,000 after buying an additional 118 shares during the period. Sterling Investment Counsel LLC boosted its position in M&T Bank by 26.6% during the 1st quarter. Sterling Investment Counsel LLC now owns 4,428 shares of the financial services provider's stock valued at $791,000 after buying an additional 931 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in M&T Bank by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 19,444 shares of the financial services provider's stock valued at $3,475,000 after buying an additional 515 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insider Transactions at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the sale, the director now owns 23,070 shares in the company, 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 is accessible through this hyperlink. Insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. TD Cowen assumed coverage on shares of M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price objective for the company in a report on Thursday, April 24th. Robert W. Baird decreased their price objective on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. DA Davidson decreased their price objective on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, Cowen assumed coverage on shares of M&T Bank in a report on Wednesday, May 14th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of "Moderate Buy" and an average target price of $210.88.

M&T Bank Price Performance

NYSE:MTB traded up $4.54 during trading hours on Monday, hitting $189.60. 1,376,874 shares of the stock traded hands, compared to its average volume of 1,181,329. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.39. M&T Bank Corporation has a 1 year low of $145.82 and a 1 year high of $225.70. The company has a market cap of $30.43 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.34 and a beta of 0.62. The stock has a 50 day moving average price of $177.32 and a 200 day moving average price of $183.75.

M&T Bank (NYSE:MTB - Get Free Report) last released its 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). M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. The company had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the firm posted $3.09 EPS. Sell-side analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Monday, June 2nd. M&T Bank's dividend payout ratio (DPR) is presently 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.