YHB Investment Advisors Inc. Buys Shares of 3,817 M&T Bank Co. (NYSE:MTB)

YHB Investment Advisors Inc. bought a new stake in M&T Bank Co. (NYSE:MTBGet Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,817 shares of the financial services provider’s stock, valued at approximately $608,000.

Other large investors have also modified their holdings of the company. Riverview Trust Co acquired a new position in shares of M&T Bank in the 1st quarter valued at $27,000. Bank of New Hampshire acquired a new position in M&T Bank during the 1st quarter worth about $34,000. Cordasco Financial Network acquired a new position in M&T Bank during the 1st quarter worth about $34,000. J.W. Cole Advisors Inc. acquired a new stake in M&T Bank in the 1st quarter valued at about $34,000. Finally, Tcwp LLC acquired a new stake in M&T Bank in the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 82.24% of the company’s stock.

M&T Bank Stock Down 1.3 %

M&T Bank stock opened at $183.20 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $180.56 and a two-hundred day moving average of $172.85. The stock has a market capitalization of $32.87 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 0.83 and a beta of 0.88. M&T Bank Co. has a twelve month low of $138.01 and a twelve month high of $193.42.

M&T Bank (NYSE:MTBGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $3.10 EPS for the quarter, meeting the consensus estimate of $3.10. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.05 billion. M&T Bank had a return on equity of 10.76% and a net margin of 23.21%. During the same period last year, the firm earned $3.45 EPS. As a group, research analysts expect that M&T Bank Co. will post 15.19 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 1st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $4.80 annualized dividend and a dividend yield of 2.62%. M&T Bank’s dividend payout ratio is currently 44.61%.

M&T Bank declared that its board has authorized a stock repurchase program on Tuesday, July 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MTB. Deutsche Bank Aktiengesellschaft increased their price target on M&T Bank from $200.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, September 12th. Wolfe Research reduced their price target on M&T Bank from $214.00 to $187.00 and set an “outperform” rating on the stock in a research report on Thursday, May 26th. Citigroup increased their price objective on M&T Bank to $200.00 in a report on Friday, July 22nd. JPMorgan Chase & Co. dropped their price target on M&T Bank from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Friday, July 1st. Finally, Morgan Stanley raised their price target on M&T Bank from $203.00 to $222.00 and gave the stock an “overweight” rating in a research note on Thursday, July 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Moderate Buy” and an average price target of $202.64.

Insider Activity

In related news, EVP Robert J. Bojdak sold 1,290 shares of M&T Bank stock in a transaction on Monday, August 15th. The stock was sold at an average price of $188.80, for a total transaction of $243,552.00. Following the completion of the transaction, the executive vice president now directly owns 17,785 shares of the company’s stock, valued at $3,357,808. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Kirk W. Walters sold 21,116 shares of M&T Bank stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $180.00, for a total transaction of $3,800,880.00. Following the completion of the transaction, the director now directly owns 6,134 shares of the company’s stock, valued at $1,104,120. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert J. Bojdak sold 1,290 shares of M&T Bank stock in a transaction on Monday, August 15th. The stock was sold at an average price of $188.80, for a total value of $243,552.00. Following the transaction, the executive vice president now directly owns 17,785 shares of the company’s stock, valued at $3,357,808. The disclosure for this sale can be found here. Insiders sold 30,656 shares of company stock valued at $5,604,091 in the last three months. 0.73% of the stock is currently owned by company insiders.

M&T Bank Company Profile

(Get Rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

Further Reading

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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