HB Wealth Management LLC Increases Stake in M&T Bank Co. (NYSE:MTB)

HB Wealth Management LLC increased its holdings in M&T Bank Co. (NYSE:MTBFree Report) by 9.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,928 shares of the financial services provider’s stock after acquiring an additional 165 shares during the quarter. HB Wealth Management LLC’s holdings in M&T Bank were worth $280,000 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. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank during the 4th quarter worth $25,000. General Partner Inc. bought a new stake in shares of M&T Bank in the 1st quarter valued at about $27,000. BKM Wealth Management LLC purchased a new position in shares of M&T Bank in the 4th quarter worth approximately $32,000. Headinvest LLC bought a new position in shares of M&T Bank during the 3rd quarter worth approximately $29,000. Finally, CVA Family Office LLC bought a new position in shares of M&T Bank during the 4th quarter worth approximately $33,000. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Wells Fargo & Company raised their price target on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. increased their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. DA Davidson reiterated a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. Finally, Evercore ISI upped their price target on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, M&T Bank currently has an average rating of “Hold” and an average price target of $161.58.

Read Our Latest Research Report on M&T Bank

Insider Activity

In related news, Director John P. Barnes sold 43,426 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the transaction, the director now owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Christopher E. Kay sold 1,821 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $153.78, for a total transaction of $280,033.38. Following the completion of the sale, the executive vice president now owns 8,579 shares of the company’s stock, valued at $1,319,278.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the sale, the director now owns 35,480 shares in the company, valued at $5,481,660. The disclosure for this sale can be found here. Insiders have sold 97,553 shares of company stock worth $14,724,147 in the last ninety days. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Down 1.8 %

M&T Bank stock opened at $146.49 on Friday. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $156.65. The firm has a market cap of $24.44 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 2.93 and a beta of 0.77. The business’s 50-day moving average price is $148.58 and its 200 day moving average price is $142.28. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTBGet Free Report) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the firm earned $4.09 earnings per share. As a group, sell-side analysts anticipate that M&T Bank Co. will post 13.99 earnings per share for the current year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a dividend of $1.35 per share. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Monday, June 3rd. M&T Bank’s dividend payout ratio is presently 36.51%.

M&T Bank Profile

(Free Report)

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.

See Also

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

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