Absher Wealth Management LLC Has $41.32 Million Holdings in M&T Bank Corporation (NYSE:MTB)

Absher Wealth Management LLC raised its holdings in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,147 shares of the financial services provider's stock after acquiring an additional 33,279 shares during the quarter. M&T Bank makes up 5.4% of Absher Wealth Management LLC's investment portfolio, making the stock its largest holding. Absher Wealth Management LLC owned 0.14% of M&T Bank worth $41,318,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wood Tarver Financial Group LLC bought a new stake in shares of M&T Bank in the 4th quarter valued at approximately $29,000. Banque Transatlantique SA bought a new stake in shares of M&T Bank in the 4th quarter valued at approximately $38,000. Grove Bank & Trust grew its stake in shares of M&T Bank by 104.6% in the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock valued at $40,000 after buying an additional 114 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of M&T Bank in the 4th quarter valued at approximately $52,000. Finally, Investors Research Corp grew its stake 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 buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Stock Performance

Shares of NYSE MTB traded up $3.04 during trading hours on Friday, reaching $184.74. The stock had a trading volume of 3,680,780 shares, compared to its average volume of 1,180,545. The business's fifty day moving average is $176.69 and its two-hundred day moving average is $183.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $29.65 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.34 and a beta of 0.62. M&T Bank Corporation has a twelve month low of $145.82 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced 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). The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. During the same quarter in the prior year, the company posted $3.09 EPS. As a group, research analysts expect that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 2.92%. M&T Bank's dividend payout ratio is currently 36.17%.

Analyst Upgrades and Downgrades

MTB has been the subject of several recent research reports. Robert W. Baird lowered their price target on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. DA Davidson decreased their target price on M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Truist Financial decreased their target price on M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft raised M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 target price for the company in a research report on Thursday, April 24th. Finally, Citigroup decreased their target price on M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $210.63.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $4,233,806.40. This represents a 22.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.53% of the company's stock.

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.