Vest Financial LLC lessened its holdings in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,787 shares of the financial services provider's stock after selling 11,304 shares during the quarter. Vest Financial LLC owned about 0.10% of M&T Bank worth $28,919,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Wood Tarver Financial Group LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at about $29,000. Banque Transatlantique SA purchased a new position in shares of M&T Bank during the 4th quarter valued at about $38,000. Y.D. More Investments Ltd raised its holdings in shares of M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock valued at $39,000 after buying an additional 114 shares in the last quarter. Human Investing LLC purchased a new position in shares of M&T Bank during the 4th quarter valued at about $44,000. Finally, Sierra Ocean LLC purchased a new position in shares of M&T Bank during the 4th quarter valued at about $44,000. Institutional investors own 84.68% of the company's stock.
M&T Bank Trading Up 2.4%
Shares of MTB traded up $4.30 during mid-day trading on Friday, hitting $184.21. 958,528 shares of the company's stock traded hands, compared to its average volume of 1,161,088. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 1 year low of $139.78 and a 1 year high of $225.70. The firm has a market capitalization of $29.57 billion, a P/E ratio of 12.59, a PEG ratio of 1.38 and a beta of 0.62. The business's 50-day moving average price is $172.67 and its 200-day moving average price is $186.79.
M&T Bank (NYSE:MTB - Get Free Report) last posted 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 19.24% and a return on equity of 10.12%. The business had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the firm posted $3.09 earnings per share. As a group, sell-side analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.
M&T Bank Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.93%. M&T Bank's dividend payout ratio is presently 36.17%.
Insider Activity at M&T Bank
In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages recently weighed in on MTB. Wells Fargo & Company decreased their price objective on M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Robert W. Baird decreased their price objective on M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley decreased their price objective on M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Jefferies Financial Group set a $225.00 price target on M&T Bank and gave the stock a "buy" rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, M&T Bank presently has an average rating of "Moderate Buy" and an average target price of $212.53.
Check Out Our Latest Stock Analysis on MTB
About M&T Bank
(
Free Report)
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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