Raymond James & Associates Grows Holdings in M&T Bank Co. (NYSE:MTB)

Raymond James & Associates raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,373 shares of the financial services provider’s stock after acquiring an additional 1,023 shares during the quarter. Raymond James & Associates’ holdings in M&T Bank were worth $3,827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MTB. Doyle Wealth Management purchased a new position in shares of M&T Bank in the 4th quarter valued at about $29,000. Financial Gravity Companies Inc. purchased a new position in shares of M&T Bank in the 4th quarter valued at about $30,000. JOYN Advisors Inc. increased its stake in shares of M&T Bank by 141.4% in the 4th quarter. JOYN Advisors Inc. now owns 239 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 140 shares in the last quarter. Liberty Wealth Management LLC increased its stake in shares of M&T Bank by 972.7% in the 1st quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 214 shares in the last quarter. Finally, Pearl River Capital LLC purchased a new position in shares of M&T Bank in the 1st quarter valued at about $42,000. 81.55% of the stock is currently owned by institutional investors and hedge funds.

In other M&T Bank news, CFO Darren J. King sold 1,841 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $162.95, for a total value of $299,990.95. Following the completion of the transaction, the chief financial officer now owns 46,263 shares in the company, valued at $7,538,555.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Doris P. Meister sold 460 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $160.29, for a total transaction of $73,733.40. Following the sale, the insider now owns 1,553 shares of the company’s stock, valued at approximately $248,930.37. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,521 shares of company stock valued at $1,594,509. Insiders own 0.54% of the company’s stock.

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on M&T Bank from $207.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Citigroup boosted their target price on M&T Bank from $162.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Zacks Investment Research cut M&T Bank from a “buy” rating to a “hold” rating in a report on Friday, March 29th. ValuEngine upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, UBS Group set a $169.00 target price on M&T Bank and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. M&T Bank currently has an average rating of “Hold” and a consensus target price of $179.25.

NYSE MTB traded up $1.35 on Friday, reaching $170.07. The stock had a trading volume of 1,296,500 shares, compared to its average volume of 790,507. M&T Bank Co. has a 12-month low of $133.78 and a 12-month high of $180.77. The company’s fifty day moving average price is $165.36. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $22.68 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.51 and a beta of 1.07.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.05. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. M&T Bank had a return on equity of 14.46% and a net margin of 30.84%. During the same quarter in the prior year, the company earned $2.23 earnings per share. On average, sell-side analysts expect that M&T Bank Co. will post 14.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, May 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.35%. M&T Bank’s payout ratio is currently 31.10%.

M&T Bank Company Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

Featured Story: How is a price target determined?

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.