M&T Bank Corporation $MTB Shares Newly Acquired by M Holdings Securities Inc.

M Holdings Securities Inc. acquired a new stake in M&T Bank Corporation (NYSE:MTB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,988 shares of the financial services provider’s stock, valued at approximately $665,000.

A number of other institutional investors also recently modified their holdings of the stock. First Bancorp Inc ME bought a new position in M&T Bank in the 2nd quarter worth approximately $25,000. John Boyer Inc. bought a new position in shares of M&T Bank in the 3rd quarter worth $29,000. NBH Bank acquired a new position in shares of M&T Bank during the 2nd quarter worth about $51,000. FNY Investment Advisers LLC acquired a new stake in shares of M&T Bank in the 2nd quarter valued at approximately $51,000. Finally, Compass Financial Management LLC grew its holdings in M&T Bank by 265.3% during the third quarter. Compass Financial Management LLC now owns 263 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 191 shares during the period. 84.68% of the stock is owned by institutional investors.

M&T Bank Price Performance

Shares of NYSE MTB opened at $220.62 on Wednesday. The company has a fifty day moving average price of $223.79 and a 200 day moving average price of $225.33. The firm has a market cap of $31.86 billion, a PE ratio of 11.51, a PEG ratio of 1.29 and a beta of 0.64. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. M&T Bank Corporation has a 1-year low of $179.75 and a 1-year high of $255.95.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Friday, October 16th. The financial services provider reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.93 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.53 billion. M&T Bank had a return on equity of 11.86% and a net margin of 22.63%. During the same quarter last year, the business posted $4.82 EPS. Research analysts predict that M&T Bank Corporation will post 19.48 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were issued a dividend of $1.50 per share. The ex-dividend date was Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. M&T Bank’s dividend payout ratio (DPR) is presently 31.32%.

Insider Transactions at M&T Bank

In other M&T Bank news, CEO Rene F. Jones sold 19,396 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the sale, the chief executive officer owned 103,831 shares in the company, valued at approximately $24,851,949.85. The trade was a 15.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the sale, the director owned 3,649 shares in the company, valued at $879,554.96. The trade was a 14.58% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.44% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MTB. Royal Bank Of Canada reduced their price target on shares of M&T Bank from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Wells Fargo & Company upped their price objective on shares of M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Evercore set a $230.00 price objective on M&T Bank in a research note on Thursday, October 1st. Raymond James Financial assumed coverage on M&T Bank in a research note on Tuesday, October 6th. They issued an “outperform” rating and a $250.00 target price for the company. Finally, Wall Street Zen cut M&T Bank from a “hold” rating to a “sell” rating in a report on Saturday. Eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $244.89.

M&T Bank Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Founded in 1856 as Manufacturers and Traders Bank, the company operates primarily through M&T Bank and its wealth-management subsidiary, Wilmington Trust. M&T provides retail and commercial banking services, including checking and savings accounts, loans, mortgages, credit cards, and cash-management services. Through Wilmington Trust and other businesses, it also offers wealth management, trust, investment, and related financial services.