M&T Bank Co. (NYSE:MTB) Position Increased by Abich Financial Wealth Management LLC

Abich Financial Wealth Management LLC raised its holdings in shares of M&T Bank Co. (NYSE:MTB) by 27.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,007 shares of the financial services provider’s stock after buying an additional 217 shares during the period. Abich Financial Wealth Management LLC’s holdings in M&T Bank were worth $152,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board boosted its holdings in M&T Bank by 43.1% during the first quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after buying an additional 3,739 shares in the last quarter. Leuthold Group LLC purchased a new stake in shares of M&T Bank in the 1st quarter valued at approximately $3,125,000. Rafferty Asset Management LLC lifted its position in shares of M&T Bank by 72.1% in the 4th quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock valued at $32,890,000 after acquiring an additional 100,526 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of M&T Bank by 7.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock valued at $72,357,000 after acquiring an additional 35,692 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of M&T Bank by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock valued at $48,267,000 after acquiring an additional 18,566 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Down 1.6 %

M&T Bank stock opened at $174.86 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $180.63. The firm has a fifty day moving average price of $168.09 and a two-hundred day moving average price of $154.06. The firm has a market cap of $29.18 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 3.55 and a beta of 0.76.

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 the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the previous year, the firm earned $5.12 EPS. As a group, analysts forecast that M&T Bank Co. will post 14.23 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a $1.35 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.09%. M&T Bank’s payout ratio is 36.51%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MTB. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and upped their price target for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. Citigroup upped 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. DA Davidson lifted their price objective on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Evercore ISI upped their target price on M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Finally, Bank of America raised their price target on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $178.35.

Insider Buying and Selling

In other M&T Bank news, Director Kirk W. Walters sold 2,471 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the sale, the director now directly owns 20,414 shares in the company, valued at approximately $502,184.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the sale, the director now owns 20,414 shares in the company, valued at $502,184.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the sale, the director now directly owns 44,902 shares in the company, valued at $7,724,491.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is owned by company insiders.

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.