Merit Financial Group LLC lifted its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 81.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,430 shares of the financial services provider's stock after acquiring an additional 1,541 shares during the period. Merit Financial Group LLC's holdings in M&T Bank were worth $613,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. O Keefe Stevens Advisory Inc. raised its position in M&T Bank by 2.4% in the first quarter. O Keefe Stevens Advisory Inc. now owns 44,715 shares of the financial services provider's stock valued at $7,993,000 after purchasing an additional 1,062 shares during the period. NBC Securities Inc. acquired a new stake in shares of M&T Bank during the 1st quarter worth about $94,000. Czech National Bank raised its holdings in M&T Bank by 5.9% in the 1st quarter. Czech National Bank now owns 38,109 shares of the financial services provider's stock valued at $6,812,000 after buying an additional 2,134 shares during the period. Rhumbline Advisers lifted its position in M&T Bank by 6.2% in the first quarter. Rhumbline Advisers now owns 317,789 shares of the financial services provider's stock valued at $56,805,000 after buying an additional 18,490 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. purchased a new position in M&T Bank during the first quarter worth about $311,000. Institutional investors and hedge funds own 84.68% of the company's stock.
M&T Bank Stock Down 3.3%
Shares of MTB stock traded down $6.14 on Friday, hitting $177.85. The company's stock had a trading volume of 1,301,595 shares, compared to its average volume of 1,164,222. The stock has a market capitalization of $28.55 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 1.38 and a beta of 0.62. M&T Bank Co. has a fifty-two week low of $141.00 and a fifty-two week high of $225.70. The firm's fifty day moving average price is $174.29 and its 200-day moving average price is $185.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.
M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm earned $3.09 EPS. Research analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.
M&T Bank Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank's dividend payout ratio is currently 36.17%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on MTB shares. 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. Barclays lowered their price objective on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 target price on the stock in a report on Thursday, April 24th. DA Davidson dropped their price objective on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Jefferies Financial Group set a $225.00 price objective on shares of M&T Bank and gave the company a "buy" rating in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $212.53.
View Our Latest Report on MTB
M&T Bank Company Profile
(
Free Report)
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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