Farrell Financial LLC Raises Stock Position in M&T Bank Co. (NYSE:MTB)

Farrell Financial LLC grew its stake in M&T Bank Co. (NYSE:MTB) by 158.4% in the 1st quarter, Holdings Channel reports. The firm owned 3,101 shares of the financial services provider’s stock after purchasing an additional 1,901 shares during the period. Farrell Financial LLC’s holdings in M&T Bank were worth $554,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Apollon Wealth Management LLC lifted its stake in shares of M&T Bank by 8.4% in the 4th quarter. Apollon Wealth Management LLC now owns 2,903 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 225 shares during the period. Kingsview Wealth Management LLC raised its holdings in M&T Bank by 4.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,860 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 75 shares in the last quarter. Empowered Funds LLC lifted its position in M&T Bank by 9.6% during the fourth quarter. Empowered Funds LLC now owns 3,034 shares of the financial services provider’s stock valued at $570,000 after buying an additional 267 shares during the period. Kestra Private Wealth Services LLC lifted its position in M&T Bank by 73.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 2,454 shares of the financial services provider’s stock valued at $461,000 after buying an additional 1,039 shares during the period. Finally, Summit Trail Advisors LLC bought a new stake in shares of M&T Bank during the 4th quarter valued at $290,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays decreased their price target on shares of M&T Bank from $235.00 to $220.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 15th. TD Cowen started coverage on shares of M&T Bank in a report on Thursday, May 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. DA Davidson dropped their price target on M&T Bank from $205.00 to $189.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of “Moderate Buy” and an average price target of $212.53.

M&T Bank Stock Down 0.7%

M&T Bank stock opened at $184.54 on Thursday. M&T Bank Co. has a 12 month low of $141.00 and a 12 month high of $225.70. The stock has a fifty day simple moving average of $173.76 and a two-hundred day simple moving average of $186.13. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The firm has a market cap of $29.62 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.38 and a beta of 0.62.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the business earned $3.09 earnings per share. Equities analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, June 2nd. M&T Bank’s payout ratio is presently 36.17%.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.