MONECO Advisors LLC Raises Holdings in M&T Bank Co. (NYSE:MTB)

MONECO Advisors LLC increased its position in M&T Bank Co. (NYSE:MTB) by 16.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,653 shares of the financial services provider’s stock after acquiring an additional 512 shares during the quarter. MONECO Advisors LLC’s holdings in M&T Bank were worth $501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MTB. HHM Wealth Advisors LLC bought a new position in M&T Bank during the fourth quarter worth about $25,000. Headinvest LLC bought a new stake in shares of M&T Bank in the third quarter valued at approximately $29,000. BKM Wealth Management LLC purchased a new stake in shares of M&T Bank during the 4th quarter valued at approximately $32,000. Creative Financial Designs Inc. ADV bought a new position in M&T Bank in the 4th quarter worth approximately $33,000. Finally, CVA Family Office LLC purchased a new position in M&T Bank in the 4th quarter valued at approximately $33,000. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

M&T Bank stock opened at $146.13 on Thursday. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The stock has a market cap of $24.35 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 1.21 and a beta of 0.78. The firm’s fifty day moving average price is $141.47 and its 200-day moving average price is $134.29.

M&T Bank (NYSE:MTB) last released its quarterly 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). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the business earned $4.09 EPS. On average, equities research analysts expect that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.56%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio is currently 35.16%.

Insider Buying and Selling at M&T Bank

In other news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 8,961 shares in the company, valued at approximately $1,235,811.51. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director John P. Barnes sold 10,000 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the completion of the sale, the director now directly owns 34,545 shares in the company, valued at approximately $5,081,914.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. Insiders have sold 46,119 shares of company stock worth $6,679,812 over the last ninety days. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MTB shares. Jefferies Financial Group cut their price target on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a report on Monday, April 8th. Morgan Stanley increased their price objective on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Finally, Evercore ISI boosted 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 research note on Thursday, March 28th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $158.48.

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.