OppenheimerFunds Inc. decreased its position in shares of M&T Bank Co. (NYSE:MTB) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 227,594 shares of the financial services provider’s stock after selling 12,987 shares during the quarter. OppenheimerFunds Inc. owned 0.17% of M&T Bank worth $35,737,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in MTB. Financial Gravity Companies Inc. purchased a new stake in shares of M&T Bank in the fourth quarter valued at approximately $30,000. Doyle Wealth Management purchased a new stake in shares of M&T Bank in the fourth quarter valued at approximately $29,000. Liberty Wealth Management LLC increased its position in shares of M&T Bank by 972.7% in the first quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock valued at $37,000 after buying an additional 214 shares in the last quarter. JOYN Advisors Inc. increased its position in shares of M&T Bank by 141.4% in the fourth quarter. JOYN Advisors Inc. now owns 239 shares of the financial services provider’s stock valued at $34,000 after buying an additional 140 shares in the last quarter. Finally, Pearl River Capital LLC purchased a new stake in shares of M&T Bank in the first quarter valued at approximately $42,000. 81.60% of the stock is owned by hedge funds and other institutional investors.
Shares of MTB traded down $1.62 during trading hours on Wednesday, hitting $166.14. 5,800 shares of the stock were exchanged, compared to its average volume of 808,844. 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 Co. has a 12-month low of $133.78 and a 12-month high of $180.77. The stock has a market capitalization of $22.65 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.51 and a beta of 1.06.
M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.30 by $0.05. M&T Bank had a return on equity of 14.46% and a net margin of 30.84%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the business earned $2.23 earnings per share. On average, analysts predict that M&T Bank Co. will post 14.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, May 31st. M&T Bank’s payout ratio is 31.10%.
A number of analysts have recently commented on the company. ValuEngine upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Monday, May 20th. Barclays restated a “buy” rating and issued a $217.00 price objective on shares of M&T Bank in a research report on Wednesday, April 17th. Wedbush boosted their price objective on M&T Bank from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. UBS Group set a $169.00 price objective on M&T Bank and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Finally, Zacks Investment Research cut M&T Bank from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. M&T Bank has an average rating of “Buy” and an average target price of $179.25.
In other M&T Bank news, insider Brian E. Hickey sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $168.53, for a total value of $674,120.00. Following the completion of the sale, the insider now directly owns 17,819 shares in the company, valued at approximately $3,003,036.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michele D. Trolli sold 5,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $173.14, for a total value of $865,700.00. Following the completion of the sale, the vice president now owns 10,878 shares of the company’s stock, valued at $1,883,416.92. The disclosure for this sale can be found here. Insiders have sold 14,521 shares of company stock valued at $2,460,209 over the last quarter. 0.54% of the stock is owned by company insiders.
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About M&T Bank
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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