Tritonpoint Wealth LLC Purchases 92 Shares of M&T Bank Co. (NYSE:MTB)

Tritonpoint Wealth LLC lifted its position in M&T Bank Co. (NYSE:MTB) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,073 shares of the financial services provider’s stock after acquiring an additional 92 shares during the quarter. Tritonpoint Wealth LLC’s holdings in M&T Bank were worth $549,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sanctuary Advisors LLC raised its holdings in M&T Bank by 0.3% in the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after purchasing an additional 52 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in M&T Bank by 5.8% in the fourth quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 53 shares in the last quarter. Marcum Wealth LLC raised its holdings in M&T Bank by 4.9% in the first quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 57 shares in the last quarter. Parallel Advisors LLC raised its holdings in M&T Bank by 1.7% in the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock worth $660,000 after purchasing an additional 60 shares in the last quarter. Finally, Forum Financial Management LP raised its holdings in M&T Bank by 2.2% in the fourth quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider’s stock worth $540,000 after purchasing an additional 62 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $177.85 on Friday. M&T Bank Co. has a twelve month low of $141.14 and a twelve month high of $225.70. The company’s 50 day moving average is $174.73 and its 200 day moving average is $185.32. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company has a market cap of $28.55 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the company posted $3.09 EPS. On average, sell-side analysts forecast that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 3.04%. M&T Bank’s dividend payout ratio is presently 36.17%.

Analysts Set New Price Targets

A number of brokerages have commented on MTB. Barclays reduced their target price on shares of M&T Bank from $235.00 to $220.00 and set an “equal weight” rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group set a $225.00 price objective on shares of M&T Bank and gave the company a “buy” rating in a report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a report on Thursday, April 24th. Truist Financial cut their price objective on shares of M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Piper Sandler cut their price objective on shares of M&T Bank from $220.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, M&T Bank currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.53.

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.