M&T Bank Corporation (NYSE:MTB) Shares Acquired by Absher Wealth Management LLC

Absher Wealth Management LLC boosted its position in M&T Bank Corporation (NYSE:MTB - Free Report) by 16.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 231,147 shares of the financial services provider's stock after purchasing an additional 33,279 shares during the period. M&T Bank comprises approximately 5.4% of Absher Wealth Management LLC's holdings, making the stock its largest position. Absher Wealth Management LLC owned about 0.14% of M&T Bank worth $41,318,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Canoe Financial LP grew its stake in shares of M&T Bank by 273.9% during the 1st quarter. Canoe Financial LP now owns 1,204 shares of the financial services provider's stock worth $215,000 after purchasing an additional 882 shares during the period. Means Investment CO. Inc. boosted its holdings in M&T Bank by 89.0% during the first quarter. Means Investment CO. Inc. now owns 7,800 shares of the financial services provider's stock worth $1,394,000 after buying an additional 3,672 shares in the last quarter. Blue Trust Inc. boosted its holdings in M&T Bank by 14.4% during the first quarter. Blue Trust Inc. now owns 1,834 shares of the financial services provider's stock worth $328,000 after buying an additional 231 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in M&T Bank during the first quarter worth about $92,000. Finally, Envestnet Portfolio Solutions Inc. grew its position in M&T Bank by 3.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,250 shares of the financial services provider's stock worth $581,000 after buying an additional 118 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the 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 directly owns 23,070 shares in the company, valued at $4,233,806.40. This represents a 22.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research report on Tuesday, April 15th. Citigroup lifted their price objective on M&T Bank from $195.00 to $200.00 and gave the stock a "neutral" rating in a report on Monday. Morgan Stanley upped their target price on M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Barclays dropped their price target 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $210.88.

M&T Bank Trading Up 0.4%

MTB stock traded up $0.85 during midday trading on Wednesday, hitting $190.97. The stock had a trading volume of 1,065,392 shares, compared to its average volume of 1,182,820. The firm has a market cap of $30.65 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank Corporation has a 12-month low of $145.82 and a 12-month high of $225.70. The company's 50-day moving average price is $177.93 and its 200 day moving average price is $183.79.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). The business had revenue of $2.31 billion for the quarter, compared to analyst estimates 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 quarter last year, the business earned $3.09 EPS. On average, equities research analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank's payout ratio is 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.