M&T Bank Corporation (NYSE:MTB) Stake Increased by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. increased its stake in M&T Bank Corporation by 3.6%, now holding nearly 40,000 shares valued at approximately $7.15 million.
• M&T Bank reported earnings per share of $4.28 for the last quarter, exceeding analysts' expectations and highlighting a 20.44% net margin.
• The company recently declared a quarterly dividend of $1.35 per share, reflecting an annual yield of 2.79% and a payout ratio of 34.97%.

Avantax Advisory Services Inc. increased its stake in M&T Bank Corporation (NYSE:MTB - Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,992 shares of the financial services provider's stock after buying an additional 1,382 shares during the period. Avantax Advisory Services Inc.'s holdings in M&T Bank were worth $7,149,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC bought a new stake in M&T Bank during the fourth quarter valued at $29,000. Banque Transatlantique SA acquired a new stake in M&T Bank in the fourth quarter worth about $38,000. Grove Bank & Trust lifted its holdings in M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock worth $40,000 after purchasing an additional 114 shares during the period. Golden State Wealth Management LLC acquired a new stake in M&T Bank in the 1st quarter valued at about $46,000. Finally, Loomis Sayles & Co. L P acquired a new stake in M&T Bank in the 4th quarter valued at about $52,000. Institutional investors own 84.68% of the company's stock.

M&T Bank Stock Up 0.1%

Shares of MTB stock opened at $193.79 on Friday. The stock has a market cap of $31.11 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.95 and a beta of 0.63. M&T Bank Corporation has a one year low of $150.75 and a one year high of $225.70. The stock has a fifty day moving average price of $189.53 and a 200 day moving average price of $184.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.97.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.04 by $0.24. The company had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.39 billion. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. During the same period last year, the business earned $3.73 earnings per share. Analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.79%. M&T Bank's payout ratio is presently 34.97%.

Analyst Ratings Changes

MTB has been the subject of a number of research analyst reports. Citigroup upped their price target on shares of M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Robert W. Baird dropped their price target on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. TD Cowen began coverage on M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 price objective on the stock. DA Davidson increased their price objective on M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Jefferies Financial Group set a $225.00 price target on 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 given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $212.88.

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 stock was 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 directly owned 9,319 shares in the company, valued at approximately $1,838,731.89. This trade represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $197.48, for a total value of $252,181.96. Following the completion of the sale, the director owned 4,881 shares of the company's stock, valued at approximately $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,438 shares of company stock worth $1,967,346. 0.53% of the stock is owned by corporate insiders.

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.

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