Atria Investments Inc lessened its holdings in M&T Bank Co. (NYSE:MTB – Get Rating) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,188 shares of the financial services provider’s stock after selling 313 shares during the quarter. Atria Investments Inc’s holdings in M&T Bank were worth $1,479,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. boosted its holdings in shares of M&T Bank by 148.9% in the 3rd 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 during the period. Affiance Financial LLC acquired a new position in M&T Bank in the fourth quarter valued at approximately $35,000. Private Trust Co. NA bought a new position in shares of M&T Bank during the second quarter valued at approximately $40,000. CI Investments Inc. raised its position in shares of M&T Bank by 887.5% during the 3rd quarter. CI Investments Inc. now owns 237 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 213 shares during the period. Finally, Riverview Trust Co lifted its holdings in shares of M&T Bank by 219.3% in the 3rd quarter. Riverview Trust Co now owns 265 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 182 shares during the last quarter. Institutional investors own 84.10% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently commented on MTB. Odeon Capital Group upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $171.76 price objective for the company in a research note on Tuesday, January 10th. DA Davidson dropped their price objective on shares of M&T Bank from $141.00 to $138.00 in a report on Tuesday. Morgan Stanley reduced their target price on shares of M&T Bank from $212.00 to $159.00 and set an “overweight” rating for the company in a research note on Wednesday, April 5th. Wolfe Research lowered shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research note on Thursday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on M&T Bank from $255.00 to $175.00 in a research report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $165.10.
M&T Bank Trading Up 3.1 %
M&T Bank (NYSE:MTB – Get Rating) last released its quarterly earnings data on Monday, April 17th. The financial services provider reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.98 by $0.03. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.37 billion. M&T Bank had a return on equity of 11.41% and a net margin of 23.15%. During the same period last year, the company posted $2.73 EPS. On average, research analysts anticipate that M&T Bank Co. will post 17 EPS for the current fiscal year.
M&T Bank Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Monday, March 6th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.01%. The ex-dividend date was Friday, March 3rd. This is an increase from M&T Bank’s previous quarterly dividend of $1.20. M&T Bank’s payout ratio is presently 40.28%.
M&T Bank Company Profile
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.
Read More
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