2,541 Shares in M&T Bank Co. (NYSE:MTB) Bought by Resurgent Financial Advisors LLC

Resurgent Financial Advisors LLC bought a new stake in shares of M&T Bank Co. (NYSE:MTB) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,541 shares of the financial services provider’s stock, valued at approximately $370,000.

Other hedge funds have also recently bought and sold shares of the company. Meeder Advisory Services Inc. increased its position in shares of M&T Bank by 3.9% during the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 70 shares during the period. Burns J W & Co. Inc. NY increased its holdings in M&T Bank by 1.3% in the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after buying an additional 80 shares during the period. First Horizon Advisors Inc. raised its stake in shares of M&T Bank by 3.2% in the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after buying an additional 80 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of M&T Bank by 2.3% during the 1st quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after acquiring an additional 81 shares during the period. Finally, Tritonpoint Wealth LLC boosted its position in shares of M&T Bank by 2.3% during the 1st quarter. Tritonpoint Wealth LLC now owns 3,833 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 87 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on MTB. Wells Fargo & Company raised their price target on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada upped their price target on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler lifted their price objective on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of M&T Bank from $180.00 to $183.00 and gave the stock a “neutral” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average price target of $170.35.

M&T Bank Trading Up 1.1 %

MTB stock traded up $1.81 during trading on Tuesday, hitting $172.68. The company had a trading volume of 945,596 shares, compared to its average volume of 1,040,922. The stock has a market cap of $28.81 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 3.85 and a beta of 0.77. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $150.83 and a 200-day moving average price of $144.07. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $175.00.

M&T Bank (NYSE:MTB) last released its earnings results 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 during the quarter, compared to the consensus estimate 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 company posted $5.12 earnings per share. As a group, analysts predict that M&T Bank Co. will post 13.95 earnings per share for the current year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.13%. 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. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,821 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $153.78, for a total value of $280,033.38. Following the transaction, the executive vice president now directly owns 8,579 shares in the company, valued at $1,319,278.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Christopher E. Kay sold 1,821 shares of M&T Bank stock in a transaction on Friday, May 10th. The stock was sold at an average price of $153.78, for a total transaction of $280,033.38. Following the completion of the sale, the executive vice president now directly owns 8,579 shares of the company’s stock, valued at $1,319,278.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John P. Barnes sold 10,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $147.11, for a total value of $1,471,100.00. Following the completion of the transaction, the director now directly owns 34,545 shares in the company, valued at approximately $5,081,914.95. The disclosure for this sale can be found here. Insiders sold a total of 95,915 shares of company stock worth $14,497,759 in the last quarter. 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.