SYSTM Wealth Solutions LLC Purchases New Position in M&T Bank Co. (NYSE:MTB)

SYSTM Wealth Solutions LLC purchased a new stake in shares of M&T Bank Co. (NYSE:MTB – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,657 shares of the financial services provider’s stock, valued at approximately $966,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Schroder Investment Management Group increased its position in shares of M&T Bank by 106.4% during the fourth quarter. Schroder Investment Management Group now owns 83,038 shares of the financial services provider’s stock valued at $12,045,000 after buying an additional 42,798 shares during the period. Ameritas Advisory Services LLC grew its holdings in M&T Bank by 91.9% in the fourth quarter. Ameritas Advisory Services LLC now owns 2,249 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 1,077 shares during the period. Assetmark Inc. grew its holdings in M&T Bank by 4,220.3% in the fourth quarter. Assetmark Inc. now owns 330,417 shares of the financial services provider’s stock worth $47,930,000 after purchasing an additional 322,769 shares during the period. AXQ Capital LP purchased a new stake in M&T Bank in the fourth quarter worth about $469,000. Finally, Sequoia Financial Advisors LLC grew its holdings in M&T Bank by 46.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 50,084 shares of the financial services provider’s stock worth $7,265,000 after purchasing an additional 15,966 shares during the period. Hedge funds and other institutional investors own 84.10% of the company’s stock.

Insider Activity at M&T Bank

In related news, Director Rudina Seseri sold 700 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $118.40, for a total transaction of $82,880.00. Following the completion of the transaction, the director now directly owns 1,736 shares of the company’s stock, valued at $205,542.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of M&T Bank from $155.00 to $145.00 in a report on Tuesday, April 18th. StockNews.com started coverage on shares of M&T Bank in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Citigroup upgraded shares of M&T Bank from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $178.00 to $155.00 in a research note on Monday, March 27th. JPMorgan Chase & Co. dropped their target price on shares of M&T Bank from $160.00 to $125.00 in a research note on Thursday, April 6th. Finally, Morgan Stanley dropped their target price on shares of M&T Bank from $212.00 to $159.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus price target of $165.10.

M&T Bank Price Performance

Shares of NYSE MTB traded down $1.14 during midday trading on Friday, reaching $119.95. The stock had a trading volume of 72,545 shares, compared to its average volume of 1,789,657. The stock has a 50-day moving average of $119.49 and a 200-day moving average of $141.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $19.90 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 0.68 and a beta of 0.78. M&T Bank Co. has a 12-month low of $109.36 and a 12-month high of $193.42.

M&T Bank (NYSE:MTB – Get Rating) last announced its quarterly earnings data on Monday, April 17th. The financial services provider reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.98 by $0.03. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.37 billion. M&T Bank had a net margin of 23.20% and a return on equity of 11.97%. During the same period in the prior year, the company posted $2.73 earnings per share. As a group, research analysts anticipate that M&T Bank Co. will post 17.07 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 1st will be paid a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 31st. This represents a $5.20 annualized dividend and a yield of 4.34%. M&T Bank’s payout ratio is 40.28%.

M&T Bank Profile

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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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.