Connors Investor Services Inc. Buys 115 Shares of M&T Bank Co. (NYSE:MTB)

Connors Investor Services Inc. grew its holdings in shares of M&T Bank Co. (NYSE:MTB) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,419 shares of the financial services provider’s stock after acquiring an additional 115 shares during the period. Connors Investor Services Inc.’s holdings in M&T Bank were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $25,000. General Partner Inc. bought a new stake in shares of M&T Bank during the 1st quarter valued at $27,000. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank during the 1st quarter valued at $30,000. BKM Wealth Management LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $32,000. Finally, CVA Family Office LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $33,000. Institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MTB. Citigroup upped their target price on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Friday. Bank of America upped their target price on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods upped their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Jefferies Financial Group upped their target price on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average price target of $166.79.

Insiders Place Their Bets

In other M&T Bank news, Director John P. Barnes sold 13,360 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $147.00, for a total value of $1,963,920.00. Following the transaction, the director now directly owns 35,480 shares in the company, valued at approximately $5,215,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John P. Barnes sold 43,426 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the completion of the sale, the director now owns 35,480 shares of the company’s stock, valued at $5,481,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John P. Barnes sold 13,360 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $147.00, for a total transaction of $1,963,920.00. Following the sale, the director now directly owns 35,480 shares of the company’s stock, valued at approximately $5,215,560. The disclosure for this sale can be found here. Insiders have sold 95,915 shares of company stock worth $14,497,759 in the last three months. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Trading Down 1.3 %

M&T Bank stock traded down $2.13 during midday trading on Friday, reaching $165.25. The stock had a trading volume of 1,260,933 shares, compared to its average volume of 955,890. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $175.00. The firm has a market cap of $27.57 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 3.86 and a beta of 0.77. The company has a fifty day moving average of $150.48 and a 200 day moving average of $143.82.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same period in the prior year, the company posted $5.12 EPS. On average, analysts anticipate that M&T Bank Co. will post 13.95 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a $1.35 dividend. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Monday, June 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

About M&T Bank

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.