Focus Partners Wealth Has $3.37 Million Position in M&T Bank Corporation $MTB

Focus Partners Wealth lifted its stake in shares of M&T Bank Corporation (NYSE:MTB) by 3.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,840 shares of the financial services provider’s stock after acquiring an additional 696 shares during the period. Focus Partners Wealth’s holdings in M&T Bank were worth $3,368,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new position in shares of M&T Bank during the 1st quarter valued at $25,000. WPG Advisers LLC acquired a new position in shares of M&T Bank during the 1st quarter valued at $25,000. Wood Tarver Financial Group LLC acquired a new position in shares of M&T Bank during the 4th quarter valued at $29,000. Grove Bank & Trust lifted its position in shares of M&T Bank by 104.6% during the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 114 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in shares of M&T Bank during the 1st quarter valued at $46,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

MTB opened at $196.57 on Tuesday. The firm has a market cap of $30.72 billion, a P/E ratio of 12.73, a PEG ratio of 0.97 and a beta of 0.67. The firm has a 50-day moving average of $195.39 and a 200 day moving average of $183.84. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.04 by $0.24. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same quarter last year, the business earned $3.73 earnings per share. On average, research analysts expect that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.50 per share. This is a boost from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. M&T Bank’s dividend payout ratio (DPR) is 38.86%.

Insiders Place Their Bets

In other M&T Bank news, EVP Peter D’arcy sold 2,461 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the completion of the transaction, the executive vice president owned 9,319 shares in the company, valued at $1,838,731.89. This trade represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Barnes sold 15,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the transaction, the director owned 17,866 shares of the company’s stock, valued at $3,569,448.14. This represents a 45.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,738 shares of company stock worth $3,734,612 over the last quarter. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. DA Davidson boosted their target price on shares of M&T Bank from $189.00 to $207.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Wells Fargo & Company upped their price objective on shares of M&T Bank from $175.00 to $185.00 and gave the stock an “underweight” rating in a report on Thursday, July 17th. Morgan Stanley upped their price objective on shares of M&T Bank from $206.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. Cantor Fitzgerald began coverage on shares of M&T Bank in a report on Wednesday, September 10th. They set an “overweight” rating and a $228.00 price objective on the stock. Finally, Citigroup upped their price objective on shares of M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Fourteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $214.31.

M&T Bank Company 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.