O Shaughnessy Asset Management LLC Boosts Holdings in M&T Bank Co. (NYSE:MTB)

O Shaughnessy Asset Management LLC boosted its holdings in M&T Bank Co. (NYSE:MTB) by 222.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,341 shares of the financial services provider’s stock after purchasing an additional 1,614 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in M&T Bank were worth $365,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MTB. Financial Gravity Companies Inc. bought a new stake in M&T Bank during the 4th quarter worth approximately $30,000. Doyle Wealth Management bought a new stake in shares of M&T Bank in the 4th quarter valued at $29,000. Liberty Wealth Management LLC boosted 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 during the last quarter. JOYN Advisors Inc. boosted 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 during the last quarter. Finally, Pearl River Capital LLC bought a new stake in shares of M&T Bank in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 81.55% of the company’s stock.

Shares of MTB stock traded up $1.35 on Friday, hitting $170.07. The stock had a trading volume of 1,296,567 shares, compared to its average volume of 590,718. The company has a market cap of $23.23 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.53 and a beta of 1.07. The company’s 50 day moving average is $165.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.06. M&T Bank Co. has a 12-month low of $133.78 and a 12-month high of $180.77.

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

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

A number of research firms have recently commented on MTB. Wedbush upped their price objective on shares of M&T Bank from $150.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Barclays boosted their target price on shares of M&T Bank from $207.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. ValuEngine downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. UBS Group set a $169.00 target price on shares of M&T Bank and gave the company a “hold” rating in a research report on Tuesday, April 2nd. Finally, Zacks Investment Research downgraded shares of M&T Bank from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. M&T Bank currently has an average rating of “Hold” and an average price target of $179.25.

In related news, insider Doris P. Meister sold 460 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $160.29, for a total transaction of $73,733.40. Following the completion of the transaction, the insider now owns 1,553 shares in the company, valued at $248,930.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Darren J. King sold 1,841 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $162.95, for a total transaction of $299,990.95. Following the transaction, the chief financial officer now owns 46,263 shares of the company’s stock, valued at approximately $7,538,555.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,521 shares of company stock valued at $1,594,509. 0.54% of the stock is owned by company insiders.

About M&T Bank

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.

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

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