Fiduciary Alliance LLC Acquires 462 Shares of M&T Bank Corporation $MTB

Fiduciary Alliance LLC lifted its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,905 shares of the financial services provider’s stock after purchasing an additional 462 shares during the quarter. Fiduciary Alliance LLC’s holdings in M&T Bank were worth $5,025,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC grew its holdings in shares of M&T Bank by 53.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 184 shares in the last quarter. Private Trust Co. NA increased its holdings in M&T Bank by 16.5% in the 1st quarter. Private Trust Co. NA now owns 644 shares of the financial services provider’s stock valued at $115,000 after buying an additional 91 shares during the period. Concurrent Investment Advisors LLC acquired a new position in shares of M&T Bank in the 1st quarter valued at approximately $225,000. Kingswood Wealth Advisors LLC boosted its position in shares of M&T Bank by 4.4% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,076 shares of the financial services provider’s stock worth $370,000 after acquiring an additional 88 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in M&T Bank by 1.8% in the first quarter. Raymond James Financial Inc. now owns 117,972 shares of the financial services provider’s stock valued at $21,088,000 after acquiring an additional 2,111 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

MTB stock opened at $196.57 on Tuesday. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50-day simple moving average of $195.39 and a two-hundred day simple moving average of $183.84. The company has a market capitalization of $30.72 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 0.97 and a beta of 0.67.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the firm earned $3.73 EPS. Research analysts expect that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.1%. This is an increase from M&T Bank’s previous quarterly dividend of $1.35. The ex-dividend date is Tuesday, September 2nd. M&T Bank’s dividend payout ratio is 38.86%.

Insiders Place Their Bets

In related news, EVP Peter D’arcy sold 2,461 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the completion of the transaction, the executive vice president owned 9,319 shares in the company, valued at approximately $1,838,731.89. This represents a 20.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $197.48, for a total transaction of $252,181.96. Following the sale, the director owned 4,881 shares of the company’s stock, valued at approximately $963,899.88. The trade was a 20.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,738 shares of company stock valued at $3,734,612. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MTB. Cantor Fitzgerald assumed coverage on M&T Bank in a report on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 target price on the stock. Citigroup boosted their target price on M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. DA Davidson upped their price objective on shares of M&T Bank from $189.00 to $207.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of M&T Bank in a research note on Monday, May 19th. Finally, Wells Fargo & Company increased their price target on M&T Bank from $175.00 to $185.00 and gave the company an “underweight” rating in a research note on Thursday, July 17th. Fourteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, M&T Bank presently has an average rating of “Moderate Buy” and a consensus target price of $214.31.

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.