3,884 Shares in M&T Bank Corporation $MTB Bought by Teewinot Capital Advisers L.L.C.

Key Points

• Teewinot Capital Advisers L.L.C. has invested approximately $694,000 in M&T Bank Corporation, acquiring 3,884 shares during the first quarter.
• Analysts have increased their price targets for M&T Bank, with Jefferies Financial Group setting a new target at $240.00, maintaining a "buy" rating.
• M&T Bank has announced a quarterly dividend increase from $1.35 to $1.50, which reflects a 3.0% yield and a payout ratio of 38.86%.

Teewinot Capital Advisers L.L.C. acquired a new stake in M&T Bank Corporation (NYSE:MTB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,884 shares of the financial services provider's stock, valued at approximately $694,000.

Several other large investors also recently modified their holdings of MTB. Wealth Preservation Advisors LLC bought a new stake in shares of M&T Bank in the first quarter worth about $25,000. WPG Advisers LLC bought a new stake in shares of M&T Bank in the first quarter worth about $25,000. Wood Tarver Financial Group LLC bought a new stake in shares of M&T Bank in the fourth quarter worth about $29,000. Grove Bank & Trust increased its holdings in shares of 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 acquiring an additional 114 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of M&T Bank in the first quarter worth about $46,000. 84.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MTB. Wall Street Zen upgraded M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. TD Cowen started coverage on M&T Bank in a report on Thursday, May 15th. They set a "buy" rating and a $230.00 price objective for the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $200.00 price objective on shares of M&T Bank in a report on Monday, May 19th. Cantor Fitzgerald started coverage on M&T Bank in a report on Wednesday. They set an "overweight" rating and a $228.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. Fourteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $214.31.

Insider Buying and Selling

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the completion of the sale, the director directly owned 17,866 shares of the company's stock, valued at approximately $3,569,448.14. The trade was a 45.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of M&T Bank stock in a transaction on Monday, July 21st. The stock was sold at an average price of $197.48, for a total value of $252,181.96. Following the sale, the director owned 4,881 shares in the company, valued at $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. In the last three months, insiders have sold 18,738 shares of company stock valued at $3,734,612. 0.53% of the stock is owned by company insiders.

M&T Bank Price Performance

MTB stock traded down $0.14 during midday trading on Thursday, reaching $198.03. 904,364 shares of the stock were exchanged, compared to its average volume of 1,223,836. The stock has a market capitalization of $30.95 billion, a PE ratio of 12.83, a P/E/G ratio of 0.98 and a beta of 0.67. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97. The company has a fifty day moving average price of $195.64 and a 200 day moving average price of $183.79.

M&T Bank (NYSE:MTB - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $3.73 EPS. As a group, analysts expect that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be paid a dividend of $1.50 per share. This is an increase from M&T Bank's previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $6.00 dividend on an annualized basis and a yield of 3.0%. M&T Bank's dividend payout ratio (DPR) is currently 38.86%.

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.