M&T Bank Co. (NYSE:MTB) Shares Purchased by UMB Bank n.a.

UMB Bank n.a. lifted its holdings in M&T Bank Co. (NYSE:MTB) by 17.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 688 shares of the financial services provider’s stock after purchasing an additional 103 shares during the quarter. UMB Bank n.a.’s holdings in M&T Bank were worth $123,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Apollon Wealth Management LLC lifted its position in M&T Bank by 8.4% during the 4th quarter. Apollon Wealth Management LLC now owns 2,903 shares of the financial services provider’s stock worth $546,000 after acquiring an additional 225 shares during the period. Kingsview Wealth Management LLC lifted its position in M&T Bank by 4.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 1,860 shares of the financial services provider’s stock worth $350,000 after acquiring an additional 75 shares during the period. Empowered Funds LLC lifted its position in M&T Bank by 9.6% during the 4th quarter. Empowered Funds LLC now owns 3,034 shares of the financial services provider’s stock worth $570,000 after acquiring an additional 267 shares during the period. Kestra Private Wealth Services LLC lifted its position in M&T Bank by 73.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 2,454 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 1,039 shares during the period. Finally, Summit Trail Advisors LLC acquired a new stake in M&T Bank during the 4th quarter worth about $290,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

NYSE:MTB opened at $183.90 on Friday. M&T Bank Co. has a 12 month low of $141.00 and a 12 month high of $225.70. The stock has a 50 day moving average of $174.29 and a two-hundred day moving average of $185.87. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The firm has a market cap of $29.52 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 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 firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm posted $3.09 earnings per share. On average, analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be paid a dividend of $1.35 per share. The ex-dividend date is Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 2.94%. M&T Bank’s dividend payout ratio (DPR) is currently 36.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. DA Davidson decreased their price objective on M&T Bank from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of M&T Bank in a report on Monday, May 19th. Citigroup decreased their price objective on M&T Bank from $230.00 to $195.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Evercore ISI decreased their price objective on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, TD Cowen assumed coverage on M&T Bank in a report on Thursday, May 15th. They issued a “buy” rating and a $230.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Moderate Buy” and an average price target of $212.53.

About M&T Bank

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.