Crestline Management LP purchased a new position in M&T Bank Co. (NYSE:MTB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,753 shares of the financial services provider’s stock, valued at approximately $2,541,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MTB. Doyle Wealth Management bought a new position in M&T Bank in the fourth quarter worth approximately $29,000. Financial Gravity Companies Inc. bought a new position in M&T Bank in the fourth quarter worth approximately $30,000. JOYN Advisors Inc. raised its position in M&T Bank by 141.4% in the fourth quarter. JOYN Advisors Inc. now owns 239 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 140 shares during the period. Lindbrook Capital LLC bought a new position in M&T Bank in the fourth quarter worth approximately $47,000. Finally, Berman Capital Advisors LLC bought a new position in M&T Bank in the fourth quarter worth approximately $49,000. Institutional investors and hedge funds own 78.95% of the company’s stock.
Several research firms have weighed in on MTB. Robert W. Baird downgraded shares of M&T Bank from an “outperform” rating to a “neutral” rating and set a $175.00 price target on the stock. in a research report on Thursday, February 21st. ValuEngine upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday. Barclays reiterated a “buy” rating and issued a $207.00 price target on shares of M&T Bank in a research report on Thursday, February 21st. Wedbush set a $165.00 price target on shares of M&T Bank and gave the stock a “hold” rating in a research report on Friday, January 18th. Finally, Zacks Investment Research upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 price objective on the stock in a research report on Friday, January 18th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $180.27.
In related news, insider Michael J. Todaro sold 667 shares of the firm’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $167.70, for a total transaction of $111,855.90. Following the completion of the transaction, the insider now directly owns 1,798 shares of the company’s stock, valued at $301,524.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sabeth Siddique sold 365 shares of the firm’s stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $165.67, for a total transaction of $60,469.55. Following the transaction, the insider now directly owns 1,464 shares of the company’s stock, valued at $242,540.88. The disclosure for this sale can be found here. Insiders have sold a total of 12,766 shares of company stock worth $2,111,968 over the last 90 days. Insiders own 0.54% of the company’s stock.
Shares of MTB stock opened at $172.52 on Friday. The firm has a market cap of $23.89 billion, a PE ratio of 13.42, a PEG ratio of 0.88 and a beta of 1.07. M&T Bank Co. has a one year low of $133.78 and a one year high of $192.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.06.
M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 17th. The financial services provider reported $3.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.49 by $0.27. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. M&T Bank had a net margin of 29.72% and a return on equity of 14.24%. During the same period last year, the firm earned $2.66 EPS. On average, equities analysts forecast that M&T Bank Co. will post 14.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 4th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $4.00 annualized dividend and a dividend yield of 2.32%. M&T Bank’s payout ratio is 31.10%.
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M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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