Speece Thorson Capital Group Inc. Sells 1,374 Shares of M&T Bank Corporation (NYSE:MTB)

Speece Thorson Capital Group Inc. cut its holdings in M&T Bank Corporation (NYSE:MTB - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,509 shares of the financial services provider's stock after selling 1,374 shares during the quarter. M&T Bank makes up approximately 3.0% of Speece Thorson Capital Group Inc.'s holdings, making the stock its 13th largest holding. Speece Thorson Capital Group Inc. owned about 0.05% of M&T Bank worth $14,748,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Kathmere Capital Management LLC grew its stake in shares of M&T Bank by 6.7% in the first quarter. Kathmere Capital Management LLC now owns 2,004 shares of the financial services provider's stock worth $358,000 after purchasing an additional 126 shares during the last quarter. Ballentine Partners LLC boosted its position in M&T Bank by 35.4% during the 1st quarter. Ballentine Partners LLC now owns 2,885 shares of the financial services provider's stock valued at $516,000 after acquiring an additional 755 shares in the last quarter. Focused Wealth Management Inc boosted its position in M&T Bank by 5.4% during the 1st quarter. Focused Wealth Management Inc now owns 1,824 shares of the financial services provider's stock valued at $326,000 after acquiring an additional 93 shares in the last quarter. Xponance Inc. boosted its position in M&T Bank by 0.4% during the 1st quarter. Xponance Inc. now owns 22,979 shares of the financial services provider's stock valued at $4,107,000 after acquiring an additional 96 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in M&T Bank by 15.8% during the 1st quarter. Cerity Partners LLC now owns 39,947 shares of the financial services provider's stock valued at $7,141,000 after acquiring an additional 5,451 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Price Performance

Shares of MTB opened at $201.67 on Friday. The firm has a market cap of $32.37 billion, a PE ratio of 13.51, a P/E/G ratio of 1.46 and a beta of 0.63. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $186.49 and a two-hundred day simple moving average of $184.07. 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 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 for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $3.09 EPS. On average, equities analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.68%. M&T Bank's dividend payout ratio (DPR) is 36.17%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MTB. Wells Fargo & Company cut their price objective on M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 15th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of M&T Bank in a research report on Monday, May 19th. DA Davidson cut their price objective on 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. Jefferies Financial Group set a $225.00 price objective on M&T Bank and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Cowen began coverage on shares of M&T Bank in a report on Wednesday, May 14th. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $211.48.

Insider Activity at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total value of $1,229,584.00. Following the completion of the sale, the director directly owned 23,070 shares in the company, valued at $4,233,806.40. This represents a 22.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.53% of the stock is owned by company insiders.

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.

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