Prime Capital Investment Advisors LLC acquired a new position in M&T Bank Co. (NYSE:MTB – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,654 shares of the financial services provider’s stock, valued at approximately $227,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC grew its position in shares of M&T Bank by 7.8% during the 4th quarter. Penserra Capital Management LLC now owns 930 shares of the financial services provider’s stock worth $134,000 after buying an additional 67 shares during the period. Carnegie Capital Asset Management LLC grew its position in shares of M&T Bank by 2.6% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 3,119 shares of the financial services provider’s stock worth $394,000 after buying an additional 80 shares during the period. Burns J W & Co. Inc. NY grew its position in shares of M&T Bank by 1.3% during the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after buying an additional 80 shares during the period. Robinson Value Management Ltd. grew its position in shares of M&T Bank by 0.3% during the 3rd quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider’s stock worth $4,241,000 after buying an additional 85 shares during the period. Finally, Kinneret Advisory LLC grew its position in shares of M&T Bank by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 3,836 shares of the financial services provider’s stock worth $650,000 after buying an additional 86 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,481 shares of company stock valued at $5,114,624. 0.82% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on MTB. UBS Group boosted their target price on M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Jefferies Financial Group decreased their price objective on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Barclays increased their target price on M&T Bank from $150.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Evercore ISI increased their target price on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank presently has an average rating of “Hold” and an average price target of $155.21.
Check Out Our Latest Analysis on M&T Bank
M&T Bank Trading Down 0.5 %
NYSE:MTB opened at $134.56 on Friday. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $148.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $139.18 and a two-hundred day moving average price of $132.49. The company has a market cap of $22.42 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80.
M&T Bank (NYSE:MTB – Get Free Report) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. During the same period last year, the company earned $4.57 EPS. As a group, analysts expect that M&T Bank Co. will post 13.84 EPS for the current fiscal year.
M&T Bank Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s payout ratio is presently 32.95%.
M&T Bank Company Profile
M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.
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Read More: 1,654 Shares in M&T Bank Co. (NYSE:MTB) Purchased by Prime Capital Investment