AssuredPartners Investment Advisors LLC Buys New Stake in M&T Bank Corporation (NYSE:MTB)

AssuredPartners Investment Advisors LLC bought a new stake in shares of M&T Bank Corporation (NYSE:MTB) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,329 shares of the financial services provider’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in M&T Bank by 14.3% during the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider’s stock valued at $2,652,899,000 after acquiring an additional 1,761,014 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in M&T Bank by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider’s stock valued at $994,522,000 after acquiring an additional 252,583 shares during the last quarter. Geode Capital Management LLC increased its stake in M&T Bank by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider’s stock valued at $819,768,000 after purchasing an additional 40,948 shares in the last quarter. Norges Bank purchased a new position in shares of M&T Bank in the fourth quarter worth $317,690,000. Finally, Northern Trust Corp raised its holdings in shares of M&T Bank by 14.7% in the fourth quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider’s stock worth $316,483,000 after buying an additional 215,100 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 0.4%

MTB stock opened at $190.97 on Thursday. The firm has a market cap of $30.65 billion, a PE ratio of 12.79, a P/E/G ratio of 1.38 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s fifty day moving average is $178.57 and its 200 day moving average is $183.84. M&T Bank Corporation has a one year low of $145.82 and a one year high of $225.70.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business earned $3.09 EPS. On average, research analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a $1.35 dividend. The ex-dividend date is Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.83%. M&T Bank’s dividend payout ratio (DPR) is presently 36.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Thursday, April 24th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Citigroup raised their price target on shares of M&T Bank from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Morgan Stanley raised their target price on shares of M&T Bank from $206.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $210.88.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total value of $1,229,584.00. Following the transaction, the director now owns 23,070 shares in the company, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.53% of the stock is owned by corporate insiders.

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