Simplicity Solutions LLC acquired a new stake in shares of M&T Bank Co. (NYSE:MTB – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,264 shares of the financial services provider’s stock, valued at approximately $271,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of MTB. AlphaCrest Capital Management LLC bought a new stake in shares of M&T Bank during the first quarter valued at approximately $306,000. Vontobel Holding Ltd. increased its holdings in shares of M&T Bank by 29.1% during the first quarter. Vontobel Holding Ltd. now owns 2,180 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 491 shares in the last quarter. Aviva PLC increased its holdings in shares of M&T Bank by 37.7% during the first quarter. Aviva PLC now owns 27,430 shares of the financial services provider’s stock valued at $4,649,000 after acquiring an additional 7,503 shares in the last quarter. Prudential PLC bought a new stake in shares of M&T Bank during the first quarter valued at approximately $626,000. Finally, Cetera Investment Advisers increased its holdings in shares of M&T Bank by 60.8% during the first quarter. Cetera Investment Advisers now owns 5,978 shares of the financial services provider’s stock valued at $1,013,000 after acquiring an additional 2,260 shares in the last quarter. Institutional investors own 82.62% of the company’s stock.
Insider Buying and Selling
In related news, Director Rudina Seseri sold 700 shares of the 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 sale, the director now owns 1,736 shares of the company’s stock, valued at approximately $205,542.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Rudina Seseri sold 700 shares of the 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 sale, the director now owns 1,736 shares of the company’s stock, valued at approximately $205,542.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daryl N. Bible acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were bought at an average cost of $120.61 per share, for a total transaction of $1,206,100.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $1,206,100. The disclosure for this purchase can be found here. 0.97% of the stock is currently owned by insiders.
Analysts Set New Price Targets
M&T Bank Stock Down 0.5 %
Shares of NYSE MTB opened at $137.86 on Friday. M&T Bank Co. has a one year low of $109.36 and a one year high of $193.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.97 and a quick ratio of 0.97. The business’s fifty day moving average price is $125.20 and its 200-day moving average price is $132.88. The stock has a market capitalization of $22.87 billion, a PE ratio of 10.68, a P/E/G ratio of 0.82 and a beta of 0.79.
M&T Bank (NYSE:MTB – Get Free Report) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $5.05 EPS for the quarter, beating analysts’ consensus estimates of $4.16 by $0.89. M&T Bank had a return on equity of 11.97% and a net margin of 23.20%. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the firm earned $3.10 EPS. On average, equities research analysts anticipate that M&T Bank Co. will post 16.09 EPS for the current year.
M&T Bank Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, June 1st were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $5.20 dividend on an annualized basis and a yield of 3.77%. M&T Bank’s dividend payout ratio (DPR) is 40.28%.
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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