US Asset Management LLC Takes Position in M&T Bank Co. (NYSE:MTB)

US Asset Management LLC purchased a new stake in shares of M&T Bank Co. (NYSE:MTB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,464 shares of the financial services provider’s stock, valued at approximately $338,000.

A number of other hedge funds have also recently bought and sold shares of MTB. HHM Wealth Advisors LLC bought a new stake in M&T Bank during the fourth quarter worth $25,000. BKM Wealth Management LLC acquired a new position in M&T Bank during the fourth quarter worth approximately $32,000. Headinvest LLC acquired a new stake in shares of M&T Bank in the third quarter valued at approximately $29,000. CVA Family Office LLC bought a new position in shares of M&T Bank during the 4th quarter worth approximately $33,000. Finally, Planned Solutions Inc. bought a new stake in M&T Bank in the 4th quarter valued at $33,000. 84.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MTB has been the topic of several research reports. Evercore ISI upped their price objective on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Royal Bank of Canada reissued an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. Morgan Stanley lifted their target price on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Piper Sandler lowered their price target on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. 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 stock. Based on data from MarketBeat, M&T Bank has an average rating of “Hold” and an average price target of $158.48.

Insiders Place Their Bets

In other news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Doris P. Meister sold 3,961 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $143.60, for a total value of $568,799.60. Following the sale, the executive vice president now directly owns 5,000 shares of the company’s stock, valued at $718,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,020 shares of company stock worth $11,533,507. 0.82% of the stock is owned by corporate insiders.

M&T Bank Price Performance

MTB stock traded up $1.40 during midday trading on Thursday, reaching $152.66. 817,758 shares of the stock were exchanged, compared to its average volume of 1,145,930. The company has a fifty day moving average price of $142.53 and a 200 day moving average price of $135.27. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $152.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The stock has a market capitalization of $25.47 billion, a PE ratio of 10.32, a P/E/G ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data 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 net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the previous year, the company earned $4.09 earnings per share. As a group, analysts expect that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.41%. M&T Bank’s payout ratio is currently 35.16%.

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.