Aviance Capital Partners LLC Acquires Shares of 3,400 M&T Bank Co. (NYSE:MTB)

Aviance Capital Partners LLC acquired a new stake in shares of M&T Bank Co. (NYSE:MTB) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,400 shares of the financial services provider’s stock, valued at approximately $494,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC bought a new position in M&T Bank in the 4th quarter worth approximately $25,000. General Partner Inc. bought a new stake in shares of M&T Bank during the 1st quarter valued at $27,000. Headinvest LLC bought a new stake in shares of M&T Bank during the 3rd quarter valued at $29,000. BKM Wealth Management LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $32,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in shares of M&T Bank in the 4th quarter valued at $33,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. 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, June 25th. Bank of America raised their target price on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $164.00 target price on shares of M&T Bank in a report on Friday, June 21st. One research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $161.51.

M&T Bank Trading Down 0.7 %

NYSE MTB traded down $1.04 during mid-day trading on Monday, reaching $150.32. 104,409 shares of the stock were exchanged, compared to its average volume of 1,039,231. M&T Bank Co. has a one year low of $108.53 and a one year high of $156.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $25.08 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.97 and a beta of 0.77. The stock has a 50 day simple moving average of $148.32 and a 200-day simple moving average of $142.02.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data 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). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. 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 prior year, the business earned $4.09 earnings per share. On average, analysts anticipate 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 was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.59%. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date 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, Director John P. Barnes sold 43,426 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total value of $6,709,317.00. Following the sale, the director now owns 35,480 shares of the company’s stock, valued at $5,481,660. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other 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 sale, the executive vice president now owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John P. Barnes sold 43,426 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the completion of the sale, the director now directly owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The disclosure for this sale can be found here. Insiders have sold a total of 97,553 shares of company stock worth $14,724,147 over the last three months. 0.82% of the stock is currently owned by insiders.

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.