Geneos Wealth Management Inc. Has $296,000 Stock Holdings in M&T Bank Corporation $MTB

Geneos Wealth Management Inc. increased its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 20.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,656 shares of the financial services provider’s stock after acquiring an additional 276 shares during the period. Geneos Wealth Management Inc.’s holdings in M&T Bank were worth $296,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Marcum Wealth LLC raised its holdings in shares of 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 worth $220,000 after buying an additional 57 shares in the last quarter. First Manhattan CO. LLC. grew its position in M&T Bank by 0.6% in the first quarter. First Manhattan CO. LLC. now owns 9,693 shares of the financial services provider’s stock valued at $1,733,000 after acquiring an additional 57 shares during the period. Forum Financial Management LP raised its stake in M&T Bank by 2.2% during the fourth quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 62 shares in the last quarter. Compound Planning Inc. raised its stake in M&T Bank by 3.0% during the first quarter. Compound Planning Inc. now owns 2,222 shares of the financial services provider’s stock worth $397,000 after acquiring an additional 64 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of M&T Bank by 4.4% during the first quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 67 shares during the period. Institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE MTB opened at $196.57 on Tuesday. The company has a fifty day moving average price of $195.39 and a 200 day moving average price of $183.84. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $225.70. The firm has a market cap of $30.72 billion, a PE ratio of 12.73, a PEG ratio of 0.97 and a beta of 0.67. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.04 by $0.24. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations 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 period last year, the business earned $3.73 EPS. Research analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.1%. This is a boost from M&T Bank’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Tuesday, September 2nd. M&T Bank’s payout ratio is currently 38.86%.

Wall Street Analyst Weigh In

MTB has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price 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. Wells Fargo & Company raised 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. DA Davidson increased their target price on M&T Bank from $189.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Royal Bank Of Canada restated an “outperform” rating and issued a $200.00 target price on shares of M&T Bank in a research note on Monday, May 19th. Finally, Jefferies Financial Group upped their target price on shares of M&T Bank from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Fourteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $214.31.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Peter D’arcy sold 2,461 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total transaction of $485,579.91. Following the transaction, the executive vice president owned 9,319 shares of the company’s stock, valued at $1,838,731.89. The trade was a 20.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the company’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $197.48, for a total value of $252,181.96. Following the sale, the director owned 4,881 shares in the company, valued at approximately $963,899.88. This represents a 20.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,738 shares of company stock worth $3,734,612 over the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

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.