Benjamin F. Edwards & Company Inc. Acquires 1,128 Shares of M&T Bank Co. (NYSE:MTB)

Benjamin F. Edwards & Company Inc. raised its stake in M&T Bank Co. (NYSE:MTB) by 26.2% during the fourth quarter, HoldingsChannel reports. The fund owned 5,439 shares of the financial services provider’s stock after buying an additional 1,128 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in M&T Bank were worth $745,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. HHM Wealth Advisors LLC bought a new position in M&T Bank during the fourth quarter valued at approximately $25,000. Headinvest LLC bought a new stake in shares of M&T Bank in the third quarter worth $29,000. BKM Wealth Management LLC purchased a new stake in M&T Bank during the fourth quarter valued at $32,000. Creative Financial Designs Inc. ADV bought a new position in M&T Bank in the fourth quarter valued at about $33,000. Finally, CVA Family Office LLC bought a new position in M&T Bank in the fourth quarter valued at about $33,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Trading Down 0.6 %

Shares of NYSE MTB opened at $148.31 on Wednesday. The stock has a market capitalization of $24.71 billion, a P/E ratio of 10.03, a PEG ratio of 1.23 and a beta of 0.78. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $150.26. The business’s 50 day moving average is $142.27 and its two-hundred day moving average is $135.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the previous year, the business earned $4.09 EPS. As a group, research analysts expect that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.51%. M&T Bank’s dividend payout ratio (DPR) is 35.16%.

Insider Activity

In related news, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the completion of the sale, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,020 shares of company stock valued at $11,533,507. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MTB shares. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. Jefferies Financial Group reduced their price target on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Piper Sandler reduced their target price on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. Wedbush reaffirmed an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a report on Wednesday, April 10th. Finally, DA Davidson restated a “neutral” rating and set a $159.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $158.48.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.