2,537 Shares in M&T Bank Co. (NYSE:MTB) Purchased by Trail Ridge Investment Advisors LLC

Trail Ridge Investment Advisors LLC purchased a new position in M&T Bank Co. (NYSE:MTBGet Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,537 shares of the financial services provider’s stock, valued at approximately $390,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. 140 Summer Partners LP bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $20,357,000. Gotham Asset Management LLC bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $432,000. Ariel Investments LLC bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $233,000. Asset Allocation & Management Company LLC bought a new position in shares of M&T Bank during the fourth quarter valued at approximately $1,047,000. Finally, Geode Capital Management LLC increased its stake in shares of M&T Bank by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 2,332,709 shares of the financial services provider’s stock valued at $357,311,000 after purchasing an additional 66,973 shares in the last quarter. 87.61% of the stock is owned by institutional investors and hedge funds.

In other M&T Bank news, Vice Chairman Kevin J. Pearson sold 5,000 shares of M&T Bank stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $169.71, for a total value of $848,550.00. Following the sale, the insider now directly owns 39,008 shares in the company, valued at approximately $6,620,047.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.73% of the stock is owned by company insiders.

Shares of MTB stock traded up $1.02 on Wednesday, hitting $170.08. 13,582 shares of the stock traded hands, compared to its average volume of 1,620,803. The firm has a market cap of $30.52 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.01 and a beta of 0.87. M&T Bank Co. has a 52 week low of $128.46 and a 52 week high of $186.95. The firm has a 50 day simple moving average of $169.66 and a two-hundred day simple moving average of $167.59. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.05 and a quick ratio of 1.05.

M&T Bank (NYSE:MTBGet Rating) last announced its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $2.62 EPS for the quarter, beating the consensus estimate of $2.38 by $0.24. M&T Bank had a net margin of 29.31% and a return on equity of 11.45%. During the same quarter in the prior year, the business posted $3.41 EPS. Sell-side analysts forecast that M&T Bank Co. will post 13.06 EPS for the current year.

M&T Bank announced that its board has authorized a share repurchase program on Tuesday, February 22nd that allows the company to repurchase $800.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $4.80 annualized dividend and a dividend yield of 2.82%. M&T Bank’s payout ratio is 36.67%.

A number of brokerages have weighed in on MTB. Wells Fargo & Company raised their price target on shares of M&T Bank from $180.00 to $195.00 and gave the company an “equal weight” rating in a research report on Thursday, April 21st. Deutsche Bank Aktiengesellschaft raised their price target on shares of M&T Bank from $180.00 to $200.00 in a research report on Friday, March 25th. The Goldman Sachs Group raised their target price on shares of M&T Bank from $183.00 to $210.00 and gave the stock a “neutral” rating in a report on Monday, April 4th. Wedbush raised their target price on shares of M&T Bank from $187.00 to $212.00 in a report on Thursday, April 21st. Finally, Morgan Stanley upgraded shares of M&T Bank from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $179.00 to $238.00 in a report on Thursday, April 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $192.28.

M&T Bank Profile (Get Rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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