WNY Asset Management LLC increased its holdings in shares of M&T Bank Co. (NYSE: MTB – Get Rating) by 4.1% during the first quarter, Holdings Channel.com reports. The fund owned 4,196 shares of the financial services provider’s stock after buying an additional 167 shares during the period. WNY Asset Management LLC’s holdings in M&T Bank were worth $ 712,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. BlackRock Inc. grew its position in shares of M&T Bank by 4.5% during the 4th quarter. BlackRock Inc. now owns 10,376,365 shares of the financial services provider’s stock valued at $ 1,593,603,000 after acquiring an additional 446,205 shares during the period. State Street Corp grew its position in shares of M&T Bank by 0.3% during the 4th quarter. State Street Corp now owns 7,481,488 shares of the financial services provider’s stock valued at $ 1,149,007,000 after acquiring an additional 23,271 shares during the period. Geode Capital Management LLC grew its position in shares of M&T Bank by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 2,332,709 shares of the financial services provider’s stock valued at $ 357,311,000 after acquiring an additional 66,973 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of M&T Bank by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,977,138 shares of the financial services provider’s stock valued at $ 303,650,000 after acquiring an additional 79,662 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of M&T Bank by 1.4% during the 4th quarter. Wells Fargo & Company MN now owns 1,407,502 shares of the financial services provider’s stock valued at $ 216,163,000 after acquiring an additional 20,075 shares during the period. Hedge funds and other institutional investors own 87.61% of the company stock.
MTB stock opened at $ 164.42 on Tuesday. The firm has a market cap of $ 29.50 billion, a PE ratio of 12.56, a PEG ratio of 0.96 and a beta of 0.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50 day moving average price is $ 169.87 and its 200-day moving average price is $ 170.28. M&T Bank Co. has a one year low of $ 128.46 and a one year high of $ 186.95.
M&T Bank (NYSE: MTB – Get Rating) last posted its earnings results on Wednesday, April 20th. The financial services provider reported $ 2.73 earnings per share for the quarter, beating the consensus estimate of $ 2.26 by $ 0.47. The firm had revenue of $ 1.45 billion during the quarter, compared to the consensus estimate of $ 1.43 billion. M&T Bank had a net margin of 29.31% and a return on equity of 11.45%. During the same quarter last year, the firm earned $ 3.41 EPS. Equities research analysts predict that M&T Bank Co. will post 14.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 1st will be paid a $ 1.20 dividend. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $ 4.80 annualized dividend and a dividend yield of 2.92%. M&T Bank’s dividend payout ratio (DPR) is 36.67%.
MTB has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price target on M&T Bank from $ 183.00 to $ 210.00 and gave the stock a “neutral” rating in a report on Monday, April 4th. Piper Sandler lifted their price objective on M&T Bank from $ 200.00 to $ 210.00 in a report on Wednesday, April 20th. Robert W. Baird upgraded M&T Bank from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $ 175.00 to $ 200.00 in a report on Friday, June 17th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, June 10th. Finally, Wedbush lifted their price objective on M&T Bank from $ 187.00 to $ 212.00 in a report on Thursday, April 21st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $ 194.62.
In related news, Vice Chairman Kevin J. Pearson sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $ 169.71, for a total transaction of $ 848,550.00. Following the completion of the transaction, the insider now owns 39,008 shares in the company, valued at $ 6,620,047.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert J. Bojdak sold 525 shares of the business’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $ 177.82, for a total transaction of $ 93,355.50. Following the transaction, the executive vice president now owns 19,075 shares of the company stock, valued at approximately $ 3,391,916.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,725 shares of company stock valued at $ 1,335,332. Insiders own 0.73% of the company stock.
About M&T Bank: (Get Rating)
M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.
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