M&T Bank Corporation $MTB Stake Boosted by HighTower Advisors LLC

HighTower Advisors LLC lifted its holdings in M&T Bank Corporation (NYSE:MTB - Free Report) by 3.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,343 shares of the financial services provider's stock after purchasing an additional 1,864 shares during the quarter. HighTower Advisors LLC's holdings in M&T Bank were worth $9,893,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MTB. Wood Tarver Financial Group LLC bought a new stake in shares of M&T Bank in the 4th quarter worth about $29,000. Banque Transatlantique SA bought a new stake in shares of M&T Bank in the fourth quarter valued at about $38,000. Grove Bank & Trust grew its holdings in M&T Bank by 104.6% during the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock worth $40,000 after acquiring an additional 114 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in M&T Bank during the 1st quarter valued at about $46,000. Finally, Investors Research Corp raised its holdings in shares of M&T Bank by 31.1% in the 1st quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 84.68% of the company's stock.

M&T Bank Trading Up 1.5%

NYSE:MTB traded up $2.8960 on Wednesday, hitting $193.2560. The stock had a trading volume of 990,113 shares, compared to its average volume of 1,257,289. The stock has a market cap of $30.20 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.93 and a beta of 0.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $191.95 and a two-hundred day moving average price of $183.59. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping the consensus estimate of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period in the prior year, the business posted $3.73 EPS. Equities research analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be paid a $1.50 dividend. This is a boost 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 3.1%. The ex-dividend date is Tuesday, September 2nd. M&T Bank's dividend payout ratio (DPR) is presently 34.97%.

Insider Activity

In other news, EVP Peter D'arcy sold 2,461 shares of the firm's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total value of $485,579.91. Following the completion of the sale, the executive vice president owned 9,319 shares in the company, valued at approximately $1,838,731.89. This trade represents a 20.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $197.48, for a total transaction of $252,181.96. Following the sale, the director directly owned 4,881 shares in the company, valued at approximately $963,899.88. This represents a 20.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,438 shares of company stock valued at $1,967,346. Company insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MTB. Citigroup lifted their price objective on shares of M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. DA Davidson upped their target price on M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Wells Fargo & Company increased their price objective on M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target for the company in a research report on Thursday, April 24th. Finally, Cowen started coverage on M&T Bank in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $212.88.

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.