Brookstone Capital Management lifted its position in shares of M&T Bank Co. (NYSE:MTB – Free Report) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,164 shares of the financial services provider’s stock after buying an additional 371 shares during the quarter. Brookstone Capital Management’s holdings in M&T Bank were worth $523,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Orion Portfolio Solutions LLC increased its position in shares of M&T Bank by 20.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,152 shares of the financial services provider’s stock worth $1,038,000 after buying an additional 1,192 shares during the period. Xponance Inc. increased its position in shares of M&T Bank by 20.0% during the fourth quarter. Xponance Inc. now owns 20,998 shares of the financial services provider’s stock worth $3,046,000 after buying an additional 3,494 shares during the period. ING Groep NV acquired a new stake in shares of M&T Bank during the fourth quarter worth $399,000. Benjamin Edwards Inc. grew its holdings in M&T Bank by 27.6% in the fourth quarter. Benjamin Edwards Inc. now owns 970 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 210 shares during the period. Finally, Schroder Investment Management Group grew its holdings in M&T Bank by 106.4% in the fourth quarter. Schroder Investment Management Group now owns 83,038 shares of the financial services provider’s stock worth $12,045,000 after purchasing an additional 42,798 shares during the period. 82.62% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have commented on MTB. UBS Group cut shares of M&T Bank from a “buy” rating to a “neutral” rating in a report on Monday, April 10th. StockNews.com cut shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Barclays reduced their price target on shares of M&T Bank from $153.00 to $150.00 in a report on Tuesday, June 27th. SpectralCast restated a “maintains” rating on shares of M&T Bank in a report on Wednesday, June 14th. Finally, Bank of America raised their price target on shares of M&T Bank from $141.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus price target of $161.52.
M&T Bank Stock Up 3.0 %
M&T Bank (NYSE:MTB – Free Report) last released its quarterly earnings results on Monday, April 17th. The financial services provider reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.98 by $0.03. M&T Bank had a net margin of 23.20% and a return on equity of 11.97%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the firm earned $2.73 earnings per share. Research analysts expect that M&T Bank Co. will post 16.27 earnings per share for the current fiscal year.
M&T Bank Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 1st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Wednesday, May 31st. M&T Bank’s dividend payout ratio is 40.28%.
Insiders Place Their Bets
In other M&T Bank news, Director Rudina Seseri sold 700 shares of M&T Bank stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $118.40, for a total value of $82,880.00. Following the sale, the director now owns 1,736 shares of the company’s stock, valued at $205,542.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other M&T Bank news, CFO Daryl N. Bible bought 10,000 shares of M&T Bank stock in a transaction dated Thursday, June 1st. The stock was purchased at an average price of $120.61 per share, for a total transaction of $1,206,100.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $1,206,100. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Rudina Seseri sold 700 shares of M&T Bank stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $118.40, for a total transaction of $82,880.00. Following the completion of the transaction, the director now owns 1,736 shares of the company’s stock, valued at approximately $205,542.40. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.
M&T Bank Company Profile
M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that offer retail and commercial banking products and services in the United States. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.
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