2,119 Shares in M&T Bank Corporation (NYSE:MTB) Bought by AlphaCore Capital LLC

AlphaCore Capital LLC acquired a new position in shares of M&T Bank Corporation (NYSE:MTB) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,119 shares of the financial services provider’s stock, valued at approximately $379,000.

Several other large investors have also modified their holdings of the company. WBH Advisory Inc. boosted its holdings in M&T Bank by 32.9% in the 1st quarter. WBH Advisory Inc. now owns 1,898 shares of the financial services provider’s stock valued at $339,000 after purchasing an additional 470 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in M&T Bank by 11.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 292,632 shares of the financial services provider’s stock valued at $52,308,000 after purchasing an additional 28,991 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in M&T Bank by 12.4% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 3,582 shares of the financial services provider’s stock valued at $640,000 after purchasing an additional 394 shares during the period. Deutsche Bank AG boosted its holdings in M&T Bank by 20.3% in the 1st quarter. Deutsche Bank AG now owns 586,038 shares of the financial services provider’s stock valued at $104,754,000 after purchasing an additional 99,008 shares during the period. Finally, Foster Dykema Cabot & Partners LLC boosted its holdings in M&T Bank by 129.6% in the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 2,503 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 1,413 shares during the period. 84.68% of the stock is owned by institutional investors.

M&T Bank Trading Up 1.9%

Shares of MTB stock opened at $187.22 on Friday. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $225.70. The company has a market capitalization of $29.26 billion, a P/E ratio of 12.13, a P/E/G ratio of 0.92 and a beta of 0.63. The firm has a 50-day moving average price of $190.77 and a 200 day moving average price of $184.04. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the firm posted $3.73 EPS. Research analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, June 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 34.97%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MTB shares. DA Davidson increased their price target on shares of M&T Bank from $189.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Thursday, April 24th. 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 target for the company. Morgan Stanley increased their price target on shares of M&T Bank from $206.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, June 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of M&T Bank in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $212.88.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $197.48, for a total value of $252,181.96. Following the completion of the sale, the director owned 4,881 shares in the company, valued at approximately $963,899.88. This trade represents a 20.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter D’arcy sold 2,461 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the completion of the sale, the executive vice president owned 9,319 shares of the company’s stock, valued at $1,838,731.89. The trade was a 20.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,438 shares of company stock worth $1,967,346. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Company Profile

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.