Parkside Financial Bank & Trust Grows Position in M&T Bank Co. (NYSE:MTB)

Parkside Financial Bank & Trust grew its stake in shares of M&T Bank Co. (NYSE:MTB) by 26.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 584 shares of the financial services provider’s stock after acquiring an additional 121 shares during the quarter. Parkside Financial Bank & Trust’s holdings in M&T Bank were worth $80,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BKM Wealth Management LLC purchased a new position in M&T Bank during the fourth quarter worth $32,000. Headinvest LLC purchased a new position in M&T Bank during the third quarter worth $29,000. CVA Family Office LLC purchased a new position in M&T Bank during the fourth quarter worth $33,000. Planned Solutions Inc. purchased a new position in M&T Bank during the fourth quarter worth $33,000. Finally, Creative Financial Designs Inc. ADV purchased a new position in M&T Bank during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

MTB has been the topic of several analyst reports. Piper Sandler decreased their price objective on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a report on Friday, January 19th. Bank of America raised their price objective on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. UBS Group raised their price objective on M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. Royal Bank of Canada restated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a report on Tuesday, April 16th. Finally, Wells Fargo & Company lifted their target price on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $158.48.

Insider Transactions at M&T Bank

In related news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,119 shares of company stock valued at $5,341,012. 0.82% of the stock is currently owned by insiders.

M&T Bank Trading Down 0.7 %

Shares of MTB opened at $146.90 on Friday. The stock’s 50-day moving average is $140.84 and its two-hundred day moving average is $133.63. The stock has a market cap of $24.48 billion, a PE ratio of 9.93, a P/E/G ratio of 1.24 and a beta of 0.80. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $148.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm posted $4.09 earnings per share. Equities analysts forecast that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Friday, March 1st. M&T Bank’s payout ratio is 35.16%.

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.