Ameritas Investment Partners Inc. Lowers Stock Holdings in M&T Bank Co. (NYSE:MTB)

Ameritas Investment Partners Inc. trimmed its position in shares of M&T Bank Co. (NYSE:MTB) by 6.2% in the first quarter, HoldingsChannel.com reports. The fund owned 1,797 shares of the financial services provider’s stock after selling 118 shares during the period. Ameritas Investment Partners Inc.’s holdings in M&T Bank were worth $261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Resurgent Financial Advisors LLC purchased a new position in shares of M&T Bank in the 1st quarter valued at about $370,000. Catalytic Wealth RIA LLC purchased a new stake in M&T Bank during the first quarter worth approximately $218,000. Jacobi Capital Management LLC lifted its stake in M&T Bank by 2.0% during the first quarter. Jacobi Capital Management LLC now owns 7,594 shares of the financial services provider’s stock worth $1,104,000 after purchasing an additional 150 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in M&T Bank by 43.1% during the first quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after purchasing an additional 3,739 shares during the last quarter. Finally, Connors Investor Services Inc. lifted its stake in M&T Bank by 5.0% during the first quarter. Connors Investor Services Inc. now owns 2,419 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 115 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on MTB. Evercore ISI boosted their target price on M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. lifted their price target on M&T Bank from $180.00 to $183.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Finally, DA Davidson boosted their target price on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $170.35.

M&T Bank Stock Down 0.3 %

MTB opened at $171.68 on Thursday. The business’s fifty day moving average is $151.51 and its two-hundred day moving average is $144.50. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94. The company has a market cap of $28.64 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 4.44 and a beta of 0.77. M&T Bank Co. has a one year low of $108.53 and a one year high of $175.00.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period in the previous year, the business earned $5.12 earnings per share. Analysts anticipate that M&T Bank Co. will post 14.16 EPS 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. Investors of record on Monday, June 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, June 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.15%. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Activity at M&T Bank

In related news, Director John P. Barnes sold 43,426 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total transaction 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 filing with the SEC, which can be accessed through this hyperlink. In other M&T Bank news, Director John P. Barnes sold 43,426 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christopher E. Kay sold 1,821 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $153.78, for a total value of $280,033.38. Following the completion of the sale, the executive vice president now directly owns 8,579 shares in the company, valued at $1,319,278.62. The disclosure for this sale can be found here. Insiders have sold a total of 85,915 shares of company stock valued at $13,026,659 over the last quarter. Insiders own 0.82% of the company’s stock.

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.