Ferguson Wellman Capital Management Inc. purchased a new stake in shares of M&T Bank Co. (NYSE:MTB – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,269 shares of the financial services provider’s stock, valued at approximately $474,000.
A number of other institutional investors and hedge funds have also modified their holdings of MTB. SRS Capital Advisors Inc. grew its holdings in shares of M&T Bank by 712.5% during the second quarter. SRS Capital Advisors Inc. now owns 195 shares of the financial services provider’s stock valued at $31,000 after buying an additional 171 shares in the last quarter. Ronald Blue Trust Inc. grew its holdings in shares of M&T Bank by 148.9% during the third quarter. Ronald Blue Trust Inc. now owns 219 shares of the financial services provider’s stock valued at $35,000 after buying an additional 131 shares in the last quarter. Private Trust Co. NA purchased a new position in shares of M&T Bank during the second quarter valued at $40,000. CI Investments Inc. grew its holdings in shares of M&T Bank by 887.5% during the third quarter. CI Investments Inc. now owns 237 shares of the financial services provider’s stock valued at $42,000 after buying an additional 213 shares in the last quarter. Finally, Riverview Trust Co grew its holdings in shares of M&T Bank by 219.3% during the third quarter. Riverview Trust Co now owns 265 shares of the financial services provider’s stock valued at $47,000 after buying an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 84.10% of the company’s stock.
M&T Bank Trading Down 7.8 %
M&T Bank stock opened at $117.66 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.96 and a current ratio of 0.96. The business’s 50-day simple moving average is $149.00 and its 200-day simple moving average is $160.55. The firm has a market capitalization of $19.77 billion, a PE ratio of 10.21, a PEG ratio of 0.75 and a beta of 0.82. M&T Bank Co. has a 52 week low of $117.58 and a 52 week high of $193.42.
M&T Bank Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Monday, March 6th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, March 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.20. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.42%. M&T Bank’s payout ratio is presently 45.14%.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on M&T Bank from $153.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, January 23rd. Odeon Capital Group raised M&T Bank from a “hold” rating to a “buy” rating and set a $171.76 price objective for the company in a research report on Tuesday, January 10th. StockNews.com assumed coverage on M&T Bank in a research report on Thursday, March 16th. They set a “hold” rating for the company. DA Davidson assumed coverage on M&T Bank in a research report on Wednesday, December 21st. They set a “neutral” rating and a $160.00 price objective for the company. Finally, Citigroup lifted their price objective on M&T Bank from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Wednesday, February 22nd. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $182.18.
About M&T Bank
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.
Further Reading
- Get a free copy of the StockNews.com research report on M&T Bank (MTB)
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