Farrell Financial LLC Boosts Holdings in M&T Bank Co. (NYSE:MTB)

Farrell Financial LLC raised its position in M&T Bank Co. (NYSE:MTB) by 158.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,101 shares of the financial services provider’s stock after purchasing an additional 1,901 shares during the period. Farrell Financial LLC’s holdings in M&T Bank were worth $554,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MTB. Wood Tarver Financial Group LLC bought a new position in shares of M&T Bank in the fourth quarter worth approximately $29,000. Banque Transatlantique SA purchased a new stake in M&T Bank in the fourth quarter valued at approximately $38,000. Sierra Ocean LLC bought a new stake in M&T Bank during the fourth quarter valued at approximately $44,000. Human Investing LLC bought a new stake in M&T Bank during the fourth quarter valued at approximately $44,000. Finally, Loomis Sayles & Co. L P purchased a new position in M&T Bank in the 4th quarter worth approximately $52,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $184.54 on Thursday. The company’s fifty day simple moving average is $173.76 and its two-hundred day simple moving average is $186.13. M&T Bank Co. has a 12-month low of $141.00 and a 12-month high of $225.70. The firm has a market cap of $29.62 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the prior year, the company posted $3.09 earnings per share. As a group, equities analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank’s dividend payout ratio (DPR) is currently 36.17%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MTB shares. Robert W. Baird lowered their price objective on shares of M&T Bank from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. DA Davidson lowered their price target on M&T Bank from $205.00 to $189.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Cowen began coverage on M&T Bank in a research note on Wednesday, May 14th. They set a “buy” rating for the company. JPMorgan Chase & Co. reduced their price objective on M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of M&T Bank in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $212.53.

M&T Bank 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.