Woodmont Investment Counsel LLC Has $364,000 Stake in M&T Bank Co. (NYSE:MTB)

Woodmont Investment Counsel LLC trimmed its position in shares of M&T Bank Co. (NYSE:MTB) by 17.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,505 shares of the financial services provider’s stock after selling 525 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in M&T Bank were worth $364,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Synergy Asset Management LLC acquired a new position in shares of M&T Bank during the first quarter worth approximately $2,746,000. Aviance Capital Partners LLC bought a new stake in M&T Bank during the first quarter worth $494,000. Fiduciary Alliance LLC purchased a new stake in M&T Bank in the 1st quarter valued at $3,158,000. Cornerstone Wealth Group LLC purchased a new stake in M&T Bank in the 1st quarter valued at $3,812,000. Finally, Grimes & Company Inc. raised its position in M&T Bank by 16.9% in the 1st quarter. Grimes & Company Inc. now owns 2,274 shares of the financial services provider’s stock valued at $331,000 after buying an additional 328 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MTB shares. Bank of America increased their price target on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Wedbush reissued 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 reissued a “market perform” rating and issued a $170.00 price target on shares of M&T Bank in a research report on Thursday, June 27th. Evercore ISI raised their target price on M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. raised their target price on M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned 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 Up 1.3 %

Shares of MTB opened at $151.73 on Wednesday. The business has a 50-day moving average of $148.41 and a 200 day moving average of $142.06. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $156.65. The firm has a market cap of $25.32 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 2.97 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share 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 firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the business posted $4.09 EPS. As a group, research analysts forecast 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. The ex-dividend date was Monday, June 3rd. This represents a $5.40 annualized dividend and a yield of 3.56%. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Insiders Place Their Bets

In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 3,362 shares in the company, valued at approximately $464,662.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other M&T Bank news, Director John P. Barnes sold 13,360 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $147.00, for a total value of $1,963,920.00. Following the completion of the transaction, the director now owns 35,480 shares in the company, valued at approximately $5,215,560. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction dated 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 owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The disclosure for this sale can be found here. Insiders sold a total of 97,553 shares of company stock worth $14,724,147 in the last quarter. 0.82% of the stock is owned by company insiders.

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.