Mascoma Wealth Management LLC Invests $69,000 in M&T Bank Co. (NYSE:MTB)

Mascoma Wealth Management LLC bought a new position in M&T Bank Co. (NYSE:MTBGet Rating) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 434 shares of the financial services provider’s stock, valued at approximately $69,000.

Other large investors have also recently made changes to their positions in the company. Riverview Trust Co bought a new stake in shares of M&T Bank in the first quarter worth about $27,000. Bank of New Hampshire bought a new stake in M&T Bank during the first quarter worth approximately $34,000. Cordasco Financial Network bought a new stake in M&T Bank during the first quarter worth approximately $34,000. Quent Capital LLC increased its stake in M&T Bank by 548.5% during the first quarter. Quent Capital LLC now owns 214 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 181 shares during the last quarter. Finally, Tcwp LLC bought a new stake in M&T Bank during the first quarter worth approximately $36,000. 82.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Morgan Stanley boosted their target price on M&T Bank from $203.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, July 21st. StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a report on Saturday, September 17th. TheStreet lowered M&T Bank from a “b” rating to a “c+” rating in a report on Wednesday, July 20th. Wells Fargo & Company lowered their target price on M&T Bank from $195.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, July 1st. Finally, Barclays lowered their target price on M&T Bank from $280.00 to $238.00 and set an “overweight” rating for the company in a report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.64.

M&T Bank Trading Down 1.3 %

Shares of M&T Bank stock opened at $183.20 on Friday. The firm has a market capitalization of $32.87 billion, a PE ratio of 17.03, a P/E/G ratio of 0.83 and a beta of 0.88. M&T Bank Co. has a twelve month low of $138.01 and a twelve month high of $193.42. The firm’s 50-day moving average price is $180.56 and its 200 day moving average price is $172.85. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13.

M&T Bank (NYSE:MTBGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $3.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.10. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.05 billion. M&T Bank had a net margin of 23.21% and a return on equity of 10.76%. During the same period last year, the company posted $3.45 EPS. On average, sell-side analysts predict that M&T Bank Co. will post 15.19 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 1st will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Wednesday, August 31st. M&T Bank’s dividend payout ratio is presently 44.61%.

M&T Bank announced that its board has approved a share buyback plan on Tuesday, July 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 9.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 21,116 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $180.00, for a total value of $3,800,880.00. Following the completion of the sale, the director now owns 6,134 shares in the company, valued at approximately $1,104,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 21,116 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $180.00, for a total value of $3,800,880.00. Following the completion of the sale, the director now owns 6,134 shares in the company, valued at approximately $1,104,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert J. Bojdak sold 1,290 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $188.80, for a total transaction of $243,552.00. Following the completion of the sale, the executive vice president now owns 17,785 shares of the company’s stock, valued at approximately $3,357,808. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,656 shares of company stock valued at $5,604,091. 0.73% of the stock is owned by corporate insiders.

M&T Bank Company Profile

(Get Rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's 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.

Featured Articles

Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Co. (NYSE:MTBGet Rating).

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.