Bard Financial Services Inc. Decreases Stake in M&T Bank Corporation $MTB

Bard Financial Services Inc. lowered its position in shares of M&T Bank Corporation (NYSE:MTB) by 13.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,360 shares of the financial services provider’s stock after selling 1,145 shares during the quarter. Bard Financial Services Inc.’s holdings in M&T Bank were worth $1,428,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wealth Preservation Advisors LLC bought a new position in M&T Bank in the 1st quarter valued at $25,000. WPG Advisers LLC bought a new position in M&T Bank during the first quarter valued at about $25,000. Wood Tarver Financial Group LLC purchased a new stake in M&T Bank during the fourth quarter worth about $29,000. Grove Bank & Trust raised its position in M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 114 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in M&T Bank in the first quarter valued at about $46,000. 84.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on MTB. Jefferies Financial Group lifted their price target on shares of M&T Bank from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of M&T Bank in a research report on Monday, May 19th. Morgan Stanley increased their target price on shares of M&T Bank from $206.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. Citigroup boosted their price objective on M&T Bank from $200.00 to $212.00 and gave the company a “neutral” rating in a research note on Wednesday, July 2nd. Finally, Wells Fargo & Company raised their price target on shares of M&T Bank from $175.00 to $185.00 and gave the company an “underweight” rating in a report on Thursday, July 17th. Fourteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $214.31.

M&T Bank Stock Up 0.4%

Shares of NYSE:MTB opened at $198.72 on Monday. The firm has a market capitalization of $31.05 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.97 and a beta of 0.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $225.70. The firm has a fifty day moving average of $195.47 and a 200 day moving average of $183.80.

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

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be paid a $1.50 dividend. This is an increase from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. M&T Bank’s payout ratio is currently 38.86%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of M&T Bank stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the transaction, the director directly owned 17,866 shares of the company’s stock, valued at approximately $3,569,448.14. This trade represents a 45.64% decrease in their ownership of the stock. 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 company’s stock in a transaction on 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 directly owned 9,319 shares of the company’s stock, valued at $1,838,731.89. This trade represents a 20.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,738 shares of company stock worth $3,734,612 over the last ninety days. Insiders own 0.53% of the company’s stock.

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.