Stratos Wealth Partners LTD. Raises Holdings in M&T Bank Corporation (NYSE:MTB)

Stratos Wealth Partners LTD. lifted its stake in M&T Bank Corporation (NYSE:MTB - Free Report) by 74.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,254 shares of the financial services provider's stock after acquiring an additional 2,661 shares during the period. Stratos Wealth Partners LTD.'s holdings in M&T Bank were worth $1,118,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MTB. FMR LLC grew its stake in M&T Bank by 14.3% during the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after purchasing an additional 1,761,014 shares during the last quarter. Norges Bank purchased a new stake in shares of M&T Bank in the fourth quarter worth about $317,690,000. GAMMA Investing LLC boosted its position in M&T Bank by 18,471.2% during the first quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider's stock worth $126,145,000 after purchasing an additional 701,905 shares in the last quarter. Nuveen Asset Management LLC boosted its position in M&T Bank by 22.3% during the fourth quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock worth $294,662,000 after purchasing an additional 286,049 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. purchased a new position in M&T Bank during the fourth quarter worth approximately $48,939,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Trading Down 1.2%

Shares of NYSE:MTB opened at $201.67 on Friday. The stock has a market capitalization of $32.37 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 1.46 and a beta of 0.63. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $225.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day moving average price of $186.49 and a 200 day moving average price of $184.07.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results 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). M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the firm earned $3.09 earnings per share. On average, research analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

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

Insider Transactions at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the business's stock in a transaction on 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 sale, the director directly owned 23,070 shares of the company's stock, valued at $4,233,806.40. The trade was a 22.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MTB shares. Jefferies Financial Group set a $225.00 target price on M&T Bank and gave the company a "buy" rating in a report on Wednesday, May 21st. Robert W. Baird cut their target price 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. Truist Financial lowered their price target 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. TD Cowen assumed coverage on M&T Bank in a research report on Thursday, May 15th. They set a "buy" rating and a $230.00 price target for the company. Finally, 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 report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.48.

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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