Mather Group LLC. Increases Position in M&T Bank Co. (NYSE:MTB)

Mather Group LLC. grew its holdings in shares of M&T Bank Co. (NYSE:MTB) by 12.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,476 shares of the financial services provider’s stock after purchasing an additional 265 shares during the period. Mather Group LLC.’s holdings in M&T Bank were worth $360,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. HHM Wealth Advisors LLC bought a new position in shares of M&T Bank in the fourth quarter worth about $25,000. General Partner Inc. bought a new position in M&T Bank during the first quarter valued at $27,000. Fidelis Capital Partners LLC bought a new stake in shares of M&T Bank in the 1st quarter worth about $30,000. Wetzel Investment Advisors Inc. purchased a new position in shares of M&T Bank during the 4th quarter worth about $34,000. Finally, Principal Securities Inc. bought a new position in M&T Bank during the 4th quarter valued at about $34,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Performance

M&T Bank stock traded up $1.98 during mid-day trading on Wednesday, reaching $162.29. 228,418 shares of the company traded hands, compared to its average volume of 1,040,581. The firm’s fifty day moving average is $154.51 and its two-hundred day moving average is $146.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. The company has a market capitalization of $27.08 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $176.44.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate 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 previous year, the business posted $5.12 EPS. On average, equities research analysts expect that M&T Bank Co. will post 14.24 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, June 3rd. This is a positive change 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 3.33%. M&T Bank’s dividend payout ratio is 36.51%.

Insider Buying and Selling at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the transaction, the director now owns 31,796 shares in the company, valued at $5,476,225.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the sale, the director now directly owns 31,796 shares of the company’s stock, valued at $5,476,225.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kirk W. Walters sold 7,464 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the completion of the sale, the director now owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. The disclosure for this sale can be found here. Insiders have sold 61,986 shares of company stock valued at $9,730,154 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company boosted their target price on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Citigroup raised their price target on shares of M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of M&T Bank in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price objective on M&T Bank from $180.00 to $183.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $172.92.

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.