Parallel Advisors LLC Has $108,000 Stock Holdings in M&T Bank Co. (NYSE:MTB)

Parallel Advisors LLC lessened its stake in shares of M&T Bank Co. (NYSE:MTBGet Rating) by 17.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 625 shares of the financial services provider’s stock after selling 129 shares during the period. Parallel Advisors LLC’s holdings in M&T Bank were worth $108,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in M&T Bank during the first quarter valued at approximately $27,000. Bank of New Hampshire acquired a new position in M&T Bank during the first quarter valued at approximately $34,000. Cordasco Financial Network acquired a new position in M&T Bank during the first quarter valued at approximately $34,000. CVA Family Office LLC bought a new stake in shares of M&T Bank in the fourth quarter valued at approximately $31,000. Finally, Widmann Financial Services Inc. bought a new stake in shares of M&T Bank in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 87.61% of the company’s stock.

M&T Bank Stock Performance

M&T Bank stock opened at $169.22 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a fifty day moving average price of $166.08 and a two-hundred day moving average price of $171.05. M&T Bank Co. has a 52-week low of $128.46 and a 52-week high of $186.95. The firm has a market capitalization of $30.36 billion, a P/E ratio of 12.93, a P/E/G ratio of 0.78 and a beta of 0.89.

M&T Bank (NYSE:MTBGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.75 by ($1.67). M&T Bank had a return on equity of 11.45% and a net margin of 29.31%. During the same period last year, the business earned $3.45 EPS. As a group, analysts anticipate that M&T Bank Co. will post 15.12 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st were paid a $1.20 dividend. The ex-dividend date was Tuesday, May 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.84%. M&T Bank’s dividend payout ratio (DPR) is presently 36.67%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MTB. Wolfe Research reduced their price objective on M&T Bank from $214.00 to $187.00 and set an “outperform” rating for the company in a research report on Thursday, May 26th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. Piper Sandler increased their price objective on M&T Bank from $200.00 to $210.00 in a research report on Wednesday, April 20th. Morgan Stanley increased their price objective on M&T Bank from $203.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Jefferies Financial Group reduced their target price on M&T Bank from $192.00 to $175.00 and set a “hold” rating for the company in a research report on Monday, July 11th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $199.36.

Insider Activity

In other news, Vice Chairman Kevin J. Pearson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $169.71, for a total value of $848,550.00. Following the completion of the sale, the insider now directly owns 39,008 shares in the company, valued at $6,620,047.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Christopher E. Kay sold 2,200 shares of M&T Bank stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $178.83, for a total value of $393,426.00. Following the completion of the sale, the executive vice president now directly owns 5,350 shares in the company, valued at $956,740.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Kevin J. Pearson sold 5,000 shares of M&T Bank stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $169.71, for a total value of $848,550.00. Following the completion of the sale, the insider now owns 39,008 shares of the company’s stock, valued at $6,620,047.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,725 shares of company stock worth $1,335,332. 0.73% of the stock is owned by corporate insiders.

About M&T Bank

(Get Rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

See Also

Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Co. (NYSE:MTBGet Rating).

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.