NBC Securities Inc. Has $311,000 Holdings in M&T Bank Co. (NYSE:MTB)

NBC Securities Inc. reduced its holdings in M&T Bank Co. (NYSE:MTB) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,070 shares of the financial services provider’s stock after selling 294 shares during the quarter. NBC Securities Inc.’s holdings in M&T Bank were worth $311,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MTB. HHM Wealth Advisors LLC acquired a new position in shares of M&T Bank in the 4th quarter worth approximately $25,000. General Partner Inc. bought a new position in M&T Bank in the 1st quarter worth approximately $27,000. Headinvest LLC bought a new position in M&T Bank in the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC bought a new position in M&T Bank in the 4th quarter worth approximately $32,000. Finally, Creative Financial Designs Inc. ADV bought a new position in M&T Bank in the 4th quarter worth approximately $33,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the completion of the transaction, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Christopher E. Kay sold 1,821 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $153.78, for a total transaction of $280,033.38. Following the completion of the transaction, the executive vice president now directly owns 8,579 shares in the company, valued at approximately $1,319,278.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Doris P. Meister sold 1,638 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now owns 3,362 shares of the company’s stock, valued at $464,662.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,553 shares of company stock valued at $14,724,147. Company insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

MTB opened at $147.51 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $156.65. The company has a fifty day simple moving average of $147.45 and a 200 day simple moving average of $141.42. The stock has a market cap of $24.61 billion, a P/E ratio of 9.97, a P/E/G ratio of 2.90 and a beta of 0.78.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the previous year, the company posted $4.09 earnings per share. On average, research analysts expect that M&T Bank Co. will post 13.99 EPS for the current year.

M&T Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 3.66%. M&T Bank’s dividend payout ratio is presently 36.51%.

Analysts Set New Price Targets

MTB has been the subject of several research analyst reports. Evercore ISI boosted their price objective on shares of M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Wells Fargo & Company boosted their price objective on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods upped their target price 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. JPMorgan Chase & Co. upped their target price on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group upped their target price 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $159.79.

About M&T Bank

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.