Wealth Enhancement Advisory Services LLC Has $2.76 Million Stock Position in M&T Bank Corporation (NYSE:MTB)

Wealth Enhancement Advisory Services LLC reduced its holdings in M&T Bank Corporation (NYSE:MTB) by 52.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 15,446 shares of the financial services provider’s stock after selling 17,240 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in M&T Bank were worth $2,761,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its position in M&T Bank by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 53 shares during the period. Marcum Wealth LLC increased its position in M&T Bank by 4.9% in the 1st quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 57 shares during the period. Parallel Advisors LLC increased its position in M&T Bank by 1.7% in the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock valued at $660,000 after acquiring an additional 60 shares during the period. Forum Financial Management LP increased its position in M&T Bank by 2.2% in the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 62 shares during the period. Finally, Meridian Wealth Management LLC increased its position in M&T Bank by 3.8% in the 4th quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 66 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the transaction, the director now directly owns 23,070 shares of the company’s stock, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MTB shares. Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research report on Thursday, April 24th. Morgan Stanley increased their price objective on shares of M&T Bank from $206.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. Robert W. Baird decreased their price objective on shares of M&T Bank from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Evercore ISI decreased their price objective on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Finally, Cowen started coverage on shares of M&T Bank in a research report on Wednesday, May 14th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank presently has a consensus rating of “Moderate Buy” and an average target price of $210.88.

M&T Bank Stock Up 0.2%

Shares of NYSE MTB opened at $193.87 on Friday. The firm has a market cap of $31.12 billion, a PE ratio of 12.98, a P/E/G ratio of 1.40 and a beta of 0.62. M&T Bank Corporation has a 12-month low of $145.82 and a 12-month high of $225.70. The company’s fifty day simple moving average is $179.92 and its 200 day simple moving average is $183.66. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.39.

M&T Bank (NYSE:MTB) last issued 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). The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. During the same period in the prior year, the company earned $3.09 earnings per share. As a group, sell-side analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

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 paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank’s dividend payout ratio (DPR) is 36.17%.

M&T Bank Profile

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.