M&T Bank Co. (NYSE:MTB) Shares Purchased by PFG Investments LLC

PFG Investments LLC grew its holdings in shares of M&T Bank Co. (NYSE:MTB) by 37.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,596 shares of the financial services provider’s stock after purchasing an additional 708 shares during the period. PFG Investments LLC’s holdings in M&T Bank were worth $378,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MTB. HHM Wealth Advisors LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at about $25,000. General Partner Inc. purchased a new stake in M&T Bank during the first quarter worth $27,000. BKM Wealth Management LLC acquired a new stake in M&T Bank in the fourth quarter valued at $32,000. Headinvest LLC purchased a new position in shares of M&T Bank in the third quarter valued at $29,000. Finally, CVA Family Office LLC purchased a new position in shares of M&T Bank in the fourth quarter valued at $33,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Down 0.8 %

Shares of MTB traded down $1.13 during mid-day trading on Tuesday, reaching $144.39. 545,059 shares of the stock traded hands, compared to its average volume of 1,175,593. The stock has a fifty day simple moving average of $141.29 and a 200 day simple moving average of $134.20. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.93. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $24.06 billion, a price-to-earnings ratio of 9.76, a P/E/G ratio of 1.22 and a beta of 0.80.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 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 firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm earned $4.09 EPS. Sell-side analysts expect that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio is currently 35.16%.

Analysts Set New Price Targets

MTB has been the topic of a number of research reports. Jefferies Financial Group lowered their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Barclays increased their price target on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Morgan Stanley lifted their price objective on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. Finally, UBS Group raised their price target on M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $158.48.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the transaction, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Doris P. Meister sold 1,000 shares of the 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 sale, the executive vice president now owns 7,274 shares in the company, valued at $962,350.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,119 shares of company stock valued at $6,812,112. Insiders own 0.82% of the company’s stock.

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.