Hudock Inc. Has $1.67 Million Holdings in M&T Bank Co. (NYSE:MTB)

Hudock Inc. cut its holdings in shares of M&T Bank Co. (NYSE:MTB) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,491 shares of the financial services provider’s stock after selling 150 shares during the period. Hudock Inc.’s holdings in M&T Bank were worth $1,671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its stake in shares of M&T Bank by 12.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 16,410 shares of the financial services provider’s stock valued at $2,387,000 after acquiring an additional 1,759 shares during the last quarter. GSB Wealth Management LLC bought a new stake in shares of M&T Bank in the 1st quarter valued at about $214,000. Nordea Investment Management AB increased its stake in shares of M&T Bank by 3.7% in the 1st quarter. Nordea Investment Management AB now owns 12,867 shares of the financial services provider’s stock valued at $1,875,000 after acquiring an additional 460 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank in the 1st quarter valued at about $30,000. Finally, Tobam increased its stake in shares of M&T Bank by 142.1% in the 1st quarter. Tobam now owns 1,247 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 732 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John P. Barnes sold 43,426 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the sale, the director now owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director John P. Barnes sold 43,426 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the sale, the director now owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Doris P. Meister sold 1,638 shares of the firm’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 sale, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,553 shares of company stock valued at $14,724,147. 0.82% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Royal Bank of Canada reissued an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. StockNews.com cut M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Bank of America increased their target price on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, DA Davidson reissued a “neutral” rating and set a $159.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, M&T Bank has a consensus rating of “Hold” and an average price target of $161.58.

M&T Bank Stock Up 1.2 %

Shares of MTB traded up $1.71 during mid-day trading on Monday, hitting $148.20. 643,026 shares of the company’s stock were exchanged, compared to its average volume of 1,037,246. The company has a market cap of $24.73 billion, a PE ratio of 9.90, a P/E/G ratio of 2.88 and a beta of 0.77. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $156.65. The company has a 50-day simple moving average of $148.58 and a 200 day simple moving average of $142.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results 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). The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the prior year, the business earned $4.09 earnings per share. On average, research analysts forecast that M&T Bank Co. will post 13.99 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Monday, June 3rd. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio is presently 36.51%.

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.