M Holdings Securities Inc. Makes New Investment in M&T Bank Corporation $MTB

M Holdings Securities Inc. acquired a new position in shares of M&T Bank Corporation (NYSE:MTB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,988 shares of the financial services provider’s stock, valued at approximately $665,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. First Bancorp Inc ME bought a new stake in M&T Bank in the second quarter valued at about $25,000. John Boyer Inc. bought a new position in M&T Bank during the third quarter worth about $29,000. NBH Bank bought a new position in M&T Bank during the second quarter worth about $51,000. FNY Investment Advisers LLC bought a new position in M&T Bank during the second quarter worth about $51,000. Finally, Compass Financial Management LLC boosted its holdings in M&T Bank by 265.3% during the third quarter. Compass Financial Management LLC now owns 263 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 191 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Trading Down 0.9%

Shares of M&T Bank stock opened at $220.62 on Wednesday. M&T Bank Corporation has a 12-month low of $179.75 and a 12-month high of $255.95. The stock has a market capitalization of $31.86 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.29 and a beta of 0.64. The company has a 50-day simple moving average of $223.79 and a 200 day simple moving average of $225.33. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.54.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Friday, October 16th. The financial services provider reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.93 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.53 billion. M&T Bank had a net margin of 22.63% and a return on equity of 11.86%. During the same period in the previous year, the business earned $4.82 earnings per share. Research analysts expect that M&T Bank Corporation will post 19.48 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st were paid a $1.50 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. M&T Bank’s payout ratio is 31.32%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group decreased their price objective on M&T Bank from $255.00 to $238.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Morgan Stanley dropped their target price on M&T Bank from $301.00 to $294.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Cantor Fitzgerald cut their target price on M&T Bank from $285.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, October 14th. Citigroup raised their target price on M&T Bank from $225.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Finally, TD Cowen assumed coverage on M&T Bank in a research note on Thursday, October 8th. They issued a “hold” rating and a $245.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $244.89.

Insider Buying and Selling

In other news, CEO René Jones sold 19,396 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the transaction, the chief executive officer directly owned 103,831 shares of the company’s stock, valued at $24,851,949.85. The trade was a 15.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the sale, the director owned 3,649 shares in the company, valued at approximately $879,554.96. This trade represents a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.44% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Founded in 1856 as Manufacturers and Traders Bank, the company operates primarily through M&T Bank and its wealth-management subsidiary, Wilmington Trust. M&T provides retail and commercial banking services, including checking and savings accounts, loans, mortgages, credit cards, and cash-management services. Through Wilmington Trust and other businesses, it also offers wealth management, trust, investment, and related financial services.