Waverly Advisors LLC acquired a new position in M&T Bank Co. (NYSE:MTB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,659 shares of the financial services provider's stock, valued at approximately $312,000.
Other large investors have also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in shares of M&T Bank in the 4th quarter worth approximately $38,000. Y.D. More Investments Ltd lifted its holdings in shares of M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after acquiring an additional 114 shares during the last quarter. Human Investing LLC acquired a new position in shares of M&T Bank in the 4th quarter worth approximately $44,000. Sierra Ocean LLC acquired a new position in shares of M&T Bank in the 4th quarter worth approximately $44,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of M&T Bank in the 4th quarter worth approximately $52,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on MTB shares. JPMorgan Chase & Co. reduced their target price on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Barclays dropped their price objective on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 15th. DA Davidson dropped their price objective on shares of 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. Piper Sandler dropped their price objective on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Morgan Stanley dropped their price objective on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. One equities 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $212.53.
Get Our Latest Research Report on M&T Bank
M&T Bank Stock Performance
M&T Bank stock traded down $0.95 during midday trading on Friday, hitting $182.01. 229,017 shares of the company's stock were exchanged, compared to its average volume of 1,145,100. M&T Bank Co. has a 12-month low of $139.78 and a 12-month high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The stock has a market cap of $29.22 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The firm's 50 day simple moving average is $172.39 and its 200 day simple moving average is $188.12.
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 the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the business posted $3.09 earnings per share. Equities research analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.
M&T Bank Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.97%. The ex-dividend date is Monday, June 2nd. M&T Bank's payout ratio is currently 36.17%.
Insiders Place Their Bets
In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now directly owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This trade represents a 13.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.
M&T Bank Company Profile
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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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