M&T Bank Co. (NYSE:MTB) Shares Bought by Hennion & Walsh Asset Management Inc.

Posted by on Mar 22nd, 2023

Hennion & Walsh Asset Management Inc. lifted its holdings in M&T Bank Co. (NYSE:MTB – Get Rating) by 24.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,307 shares of the financial services provider’s stock after purchasing an additional 2,436 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in M&T Bank were worth $1,785,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. SeaCrest Wealth Management LLC grew its stake in shares of M&T Bank by 1.9% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 3,388 shares of the financial services provider’s stock worth $597,000 after purchasing an additional 62 shares during the last quarter. Buckingham Strategic Wealth LLC raised its holdings in shares of M&T Bank by 2.0% during the third quarter. Buckingham Strategic Wealth LLC now owns 3,237 shares of the financial services provider’s stock valued at $571,000 after acquiring an additional 65 shares during the period. IFP Advisors Inc raised its holdings in shares of M&T Bank by 0.7% during the third quarter. IFP Advisors Inc now owns 9,492 shares of the financial services provider’s stock valued at $1,672,000 after acquiring an additional 69 shares during the period. Prentice Wealth Management LLC raised its holdings in shares of M&T Bank by 3.6% during the third quarter. Prentice Wealth Management LLC now owns 2,118 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 73 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of M&T Bank by 1.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 4,338 shares of the financial services provider’s stock valued at $765,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 84.10% of the company’s stock.

M&T Bank Stock Performance

MTB stock opened at $127.55 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $21.43 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 0.75 and a beta of 0.82. M&T Bank Co. has a 12 month low of $120.40 and a 12 month high of $193.42. The firm has a 50 day moving average of $149.63 and a two-hundred day moving average of $160.85.

M&T Bank (NYSE:MTB – Get Rating) last posted its earnings results on Thursday, January 19th. The financial services provider reported $4.57 EPS for the quarter, topping the consensus estimate of $4.47 by $0.10. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.37 billion. M&T Bank had a net margin of 23.15% and a return on equity of 11.41%. During the same period in the previous year, the firm posted $3.37 earnings per share. As a group, equities analysts anticipate that M&T Bank Co. will post 18.09 EPS for the current fiscal year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Monday, March 6th will be issued a dividend of $1.30 per share. This is an increase from M&T Bank’s previous quarterly dividend of $1.20. This represents a $5.20 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Friday, March 3rd. M&T Bank’s dividend payout ratio is currently 45.14%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MTB. Wedbush upgraded shares of M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a report on Tuesday, January 3rd. Keefe, Bruyette & Woods lowered shares of M&T Bank from an “outperform” rating to a “market perform” rating and cut their price target for the company from $215.00 to $180.00 in a report on Tuesday, December 6th. DA Davidson assumed coverage on shares of M&T Bank in a report on Wednesday, December 21st. They set a “neutral” rating and a $160.00 price target on the stock. Citigroup upped their price objective on shares of M&T Bank from $160.00 to $178.00 and gave the company a “neutral” rating in a research note on Wednesday, February 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of M&T Bank from $153.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, January 23rd. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, M&T Bank has an average rating of “Hold” and an average price target of $182.18.

M&T Bank Company Profile

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M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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