M&T Bank Co. (NYSE:MTB) Shares Acquired by Sunbelt Securities Inc.

Sunbelt Securities Inc. lifted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 540.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,543 shares of the financial services provider’s stock after acquiring an additional 1,302 shares during the period. Sunbelt Securities Inc.’s holdings in M&T Bank were worth $224,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. O Shaughnessy Asset Management LLC increased its holdings in shares of M&T Bank by 26.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 8,964 shares of the financial services provider’s stock valued at $1,133,000 after purchasing an additional 1,853 shares during the period. Bank of Nova Scotia raised its position in M&T Bank by 13.1% during the 3rd quarter. Bank of Nova Scotia now owns 16,354 shares of the financial services provider’s stock worth $2,068,000 after buying an additional 1,900 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of M&T Bank by 12.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,287 shares of the financial services provider’s stock worth $289,000 after acquiring an additional 249 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of M&T Bank by 45.7% in the third quarter. Lazard Asset Management LLC now owns 5,745 shares of the financial services provider’s stock valued at $725,000 after acquiring an additional 1,803 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of M&T Bank by 371.7% during the third quarter. AQR Capital Management LLC now owns 58,099 shares of the financial services provider’s stock worth $7,347,000 after acquiring an additional 45,783 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MTB. Royal Bank of Canada restated an “outperform” rating and issued a $160.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. Jefferies Financial Group lifted their price target on M&T Bank from $151.00 to $160.00 and gave the company a “hold” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. increased their price objective on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Wells Fargo & Company boosted their target price 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. Finally, Evercore ISI increased their price target on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $161.51.

M&T Bank Stock Performance

NYSE MTB opened at $151.36 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. The stock has a market cap of $25.25 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 2.89 and a beta of 0.78. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $156.65. The business has a fifty day moving average of $148.32 and a 200-day moving average of $141.93.

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 analysts’ consensus estimates of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter last year, the company posted $4.09 earnings per share. As a group, analysts predict that M&T Bank Co. will post 13.99 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a $1.35 dividend. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Monday, June 3rd. M&T Bank’s payout ratio is presently 36.51%.

Insider Buying and Selling at M&T Bank

In other news, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction 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 completion of the sale, the executive vice president now owns 3,362 shares of the company’s stock, valued at $464,662.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at $464,662.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kirk W. Walters sold 16,179 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $148.01, for a total transaction of $2,394,653.79. Following the transaction, the director now directly owns 6,348 shares in the company, valued at approximately $939,567.48. The disclosure for this sale can be found here. In the last three months, insiders sold 97,553 shares of company stock worth $14,724,147. Insiders own 0.82% of the company’s stock.

M&T Bank Company 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.