Naples Money Management LLC Takes Position in M&T Bank Co. (NYSE:MTB)

Naples Money Management LLC acquired a new position in M&T Bank Co. (NYSE:MTBFree Report) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 16,485 shares of the financial services provider’s stock, valued at approximately $2,260,000. M&T Bank makes up approximately 2.1% of Naples Money Management LLC’s investment portfolio, making the stock its 20th largest holding.

Other hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in shares of M&T Bank during the third quarter valued at approximately $833,000. Tokio Marine Asset Management Co. Ltd. increased its position in shares of M&T Bank by 8.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 305 shares during the last quarter. NBC Securities Inc. bought a new position in shares of M&T Bank in the 3rd quarter worth approximately $299,000. Metis Global Partners LLC grew its position in M&T Bank by 15.2% during the third quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after buying an additional 931 shares during the period. Finally, Matrix Asset Advisors Inc. NY increased its holdings in M&T Bank by 15.7% during the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock valued at $12,685,000 after buying an additional 12,590 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE:MTB traded up $4.08 during mid-day trading on Friday, reaching $143.38. The stock had a trading volume of 1,523,687 shares, compared to its average volume of 1,215,371. The business’s 50 day moving average price is $139.76 and its 200 day moving average price is $132.81. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $148.23. The company has a market cap of $23.89 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 1.16 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTBGet Free Report) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the company earned $4.09 earnings per share. Research analysts expect that M&T Bank Co. will post 13.95 EPS 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 issued a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.63%. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

Wall Street Analysts Forecast Growth

MTB has been the subject of several analyst reports. Wedbush restated an “outperform” rating and issued a $170.00 price objective on shares of M&T Bank in a research note on Wednesday, April 10th. Wells Fargo & Company lifted their price objective on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday. Jefferies Financial Group reduced their target price on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a report on Monday, April 8th. Bank of America lifted their price target on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Barclays increased their price objective on shares of 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $158.48.

View Our Latest Stock Analysis on MTB

Insider Activity

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the business’s stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the sale, the executive vice president now owns 5,000 shares in the company, valued at $718,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,119 shares of company stock worth $5,341,012. 0.82% of the stock is currently owned by corporate insiders.

About M&T Bank

(Free Report)

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.

Read More

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:MTBFree Report).

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.