MONECO Advisors LLC Boosts Stock Holdings in M&T Bank Co. (NYSE:MTB)

MONECO Advisors LLC lifted its stake in shares of M&T Bank Co. (NYSE:MTB) by 16.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,609 shares of the financial services provider’s stock after acquiring an additional 507 shares during the quarter. MONECO Advisors LLC’s holdings in M&T Bank were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of M&T Bank in the 4th quarter valued at $232,322,000. Invesco Ltd. grew its holdings in shares of M&T Bank by 15.5% during the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after purchasing an additional 650,796 shares during the last quarter. Smead Capital Management Inc. acquired a new stake in shares of M&T Bank during the fourth quarter worth about $59,418,000. Senvest Management LLC boosted its position in shares of M&T Bank by 279.6% in the 3rd quarter. Senvest Management LLC now owns 426,700 shares of the financial services provider’s stock valued at $53,956,000 after purchasing an additional 314,300 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in M&T Bank during the 4th quarter worth approximately $34,645,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other news, EVP Christopher E. Kay sold 1,821 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $153.78, for a total transaction of $280,033.38. Following the sale, the executive vice president now owns 8,579 shares of the company’s stock, valued at approximately $1,319,278.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Christopher E. Kay sold 1,821 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $153.78, for a total transaction of $280,033.38. Following the sale, the executive vice president now owns 8,579 shares of the company’s stock, valued at approximately $1,319,278.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the sale, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The disclosure for this sale can be found here. Insiders have sold 97,553 shares of company stock valued at $14,724,147 in the last quarter. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Stock Performance

NYSE MTB opened at $144.79 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $146.58 and its two-hundred day moving average is $141.08. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $156.65. The stock has a market capitalization of $24.16 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 2.79 and a beta of 0.78.

M&T Bank (NYSE:MTB) last released its earnings results 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 business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm posted $4.09 EPS. Research analysts expect that M&T Bank Co. will post 14.02 EPS for the current year.

M&T Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be paid a dividend of $1.35 per share. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, June 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.73%. M&T Bank’s payout ratio is 36.51%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Jefferies Financial Group upped their price target on shares of M&T Bank from $151.00 to $160.00 and gave the company a “hold” rating in a research report on Tuesday, June 4th. Wedbush reiterated an “outperform” rating and issued a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Finally, DA Davidson reiterated a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. 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 company. Based on data from MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus target price of $159.79.

M&T Bank 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.