Naples Money Management LLC Invests $2.26 Million in M&T Bank Co. (NYSE:MTB)

Naples Money Management LLC acquired a new stake in M&T Bank Co. (NYSE:MTB) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 16,485 shares of the financial services provider’s stock, valued at approximately $2,260,000. M&T Bank makes up about 2.1% of Naples Money Management LLC’s portfolio, making the stock its 20th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Clear Street Markets LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $25,000. RVW Wealth LLC acquired a new stake in M&T Bank in the 3rd quarter valued at about $27,000. Quarry LP bought a new position in M&T Bank during the first quarter worth about $27,000. Sunbelt Securities Inc. bought a new position in M&T Bank during the first quarter worth about $27,000. Finally, BKM Wealth Management LLC acquired a new position in M&T Bank during the fourth quarter worth approximately $32,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at M&T Bank

In other news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now owns 6,367 shares in the company, valued at $923,215. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total value of $132,300.00. Following the sale, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,119 shares of company stock worth $5,341,012. Insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

M&T Bank stock traded up $4.08 during mid-day trading on Friday, reaching $143.38. The company had a trading volume of 1,523,687 shares, compared to its average volume of 1,215,371. The business has a fifty day simple moving average of $139.76 and a 200 day simple moving average of $132.81. The company has a market cap of $23.89 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.16 and a beta of 0.80. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $148.23. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the business earned $4.09 EPS. On average, equities research analysts predict that M&T Bank Co. will post 13.95 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is currently 35.16%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MTB shares. Keefe, Bruyette & Woods lifted their target price on M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research note on Tuesday. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Wedbush restated an “outperform” rating and set a $170.00 price objective on shares of M&T Bank in a research report on Wednesday, April 10th. Jefferies Financial Group reduced their price objective on M&T Bank from $154.00 to $151.00 and set a “hold” rating for the company in a report on Monday, April 8th. Finally, Morgan Stanley increased their target price on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, M&T Bank has an average rating of “Hold” and an average price target of $158.48.

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.