Strategic Financial Services Inc Has $7.37 Million Holdings in M&T Bank Co. (MTB)

Strategic Financial Services Inc decreased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 1.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 46,945 shares of the financial services provider’s stock after selling 560 shares during the period. M&T Bank makes up approximately 1.0% of Strategic Financial Services Inc’s investment portfolio, making the stock its 21st largest holding. Strategic Financial Services Inc’s holdings in M&T Bank were worth $7,371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. IFP Advisors Inc increased its position in M&T Bank by 21.9% during the 4th quarter. IFP Advisors Inc now owns 351 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 63 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in M&T Bank by 13.6% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 608 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 73 shares during the period. Moody Lynn & Lieberson LLC increased its position in M&T Bank by 1.4% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 5,527 shares of the financial services provider’s stock worth $791,000 after purchasing an additional 75 shares during the period. Alps Advisors Inc. increased its position in M&T Bank by 4.9% during the 4th quarter. Alps Advisors Inc. now owns 1,617 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 76 shares during the period. Finally, Nuveen Asset Management LLC increased its position in M&T Bank by 2.1% during the 4th quarter. Nuveen Asset Management LLC now owns 3,656 shares of the financial services provider’s stock worth $523,000 after purchasing an additional 76 shares during the period. Institutional investors own 80.81% of the company’s stock.

In related news, CFO Darren J. King sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $164.56, for a total value of $1,645,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michele D. Trolli sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $173.14, for a total value of $865,700.00. Following the completion of the sale, the vice president now directly owns 10,878 shares in the company, valued at approximately $1,883,416.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,401 shares of company stock worth $3,591,318. Insiders own 0.54% of the company’s stock.



MTB opened at $166.49 on Tuesday. The company has a market capitalization of $23.03 billion, a P/E ratio of 12.95, a PEG ratio of 1.52 and a beta of 1.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.01. M&T Bank Co. has a 1-year low of $133.78 and a 1-year high of $187.07.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.05. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.51 billion. M&T Bank had a return on equity of 14.46% and a net margin of 30.84%. During the same quarter in the prior year, the firm posted $2.23 EPS. As a group, equities research analysts forecast that M&T Bank Co. will post 14.6 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio is currently 31.10%.

MTB has been the topic of several recent analyst reports. Zacks Investment Research upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 target price on the stock in a research report on Friday, January 18th. ValuEngine cut M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Barclays boosted their target price on M&T Bank from $207.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Morgan Stanley dropped their target price on M&T Bank from $175.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 8th. Finally, Wedbush set a $165.00 target price on M&T Bank and gave the stock a “hold” rating in a research report on Friday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. M&T Bank presently has an average rating of “Hold” and an average price target of $179.25.

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M&T Bank Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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

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