Hanson & Doremus Investment Management Reduces Stock Holdings in M&T Bank Co. (NYSE:MTB)

Hanson & Doremus Investment Management decreased its stake in M&T Bank Co. (NYSE:MTB) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,471 shares of the financial services provider’s stock after selling 66 shares during the quarter. Hanson & Doremus Investment Management’s holdings in M&T Bank were worth $799,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MTB. Wood Tarver Financial Group LLC purchased a new position in shares of M&T Bank in the 4th quarter worth approximately $29,000. Banque Transatlantique SA purchased a new position in shares of M&T Bank in the 4th quarter worth approximately $38,000. Sierra Ocean LLC purchased a new position in shares of M&T Bank in the 4th quarter worth approximately $44,000. Human Investing LLC purchased a new position in shares of M&T Bank in the 4th quarter worth approximately $44,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of M&T Bank in the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

MTB has been the subject of a number of recent research reports. Cowen initiated coverage on M&T Bank in a report on Wednesday, May 14th. They issued a “buy” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of M&T Bank in a research note on Monday, May 19th. TD Cowen started coverage on M&T Bank in a research note on Thursday, May 15th. They set a “buy” rating and a $230.00 price target for the company. JPMorgan Chase & Co. decreased their price target on M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, Morgan Stanley decreased their price target on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $212.53.

M&T Bank Trading Down 3.3%

Shares of NYSE MTB opened at $177.85 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $174.73 and a two-hundred day simple moving average of $185.08. The firm 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 Co. has a twelve month low of $141.14 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB) last issued 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 the consensus estimate of $2.35 billion. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period last year, the firm earned $3.09 earnings per share. Analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared 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. This represents a $5.40 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank’s payout ratio is 36.17%.

M&T Bank Company 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.