Valeo Financial Advisors LLC Acquires 292 Shares of M&T Bank Corporation $MTB

Valeo Financial Advisors LLC increased its holdings in M&T Bank Corporation (NYSE:MTB) by 17.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,990 shares of the financial services provider’s stock after acquiring an additional 292 shares during the quarter. Valeo Financial Advisors LLC’s holdings in M&T Bank were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of M&T Bank by 33.1% in the 1st quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider’s stock worth $1,768,564,000 after acquiring an additional 2,460,315 shares in the last quarter. Invesco Ltd. grew its position in M&T Bank by 15.2% during the 1st quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider’s stock valued at $635,039,000 after purchasing an additional 468,758 shares during the last quarter. Northern Trust Corp grew its position in M&T Bank by 2.3% during the 1st quarter. Northern Trust Corp now owns 1,721,410 shares of the financial services provider’s stock valued at $307,702,000 after purchasing an additional 38,081 shares during the last quarter. Dimensional Fund Advisors LP grew its position in M&T Bank by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,611,137 shares of the financial services provider’s stock valued at $287,932,000 after purchasing an additional 12,580 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in M&T Bank by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,442,381 shares of the financial services provider’s stock valued at $257,826,000 after purchasing an additional 30,643 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $187.92 on Friday. The firm’s 50-day moving average price is $195.30 and its 200-day moving average price is $186.12. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. The company has a market cap of $29.37 billion, a PE ratio of 12.17, a PEG ratio of 0.92 and a beta of 0.62. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $225.70.

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 analysts’ consensus estimates of $4.04 by $0.24. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same quarter last year, the firm posted $3.73 EPS. As a group, analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd were issued a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.2%. M&T Bank’s payout ratio is 38.86%.

Analyst Ratings Changes

Several brokerages recently commented on MTB. Evercore ISI increased their price objective on shares of M&T Bank from $222.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Citigroup increased their price objective on shares of M&T Bank from $200.00 to $212.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. DA Davidson increased their price objective on shares of M&T Bank from $189.00 to $207.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Cantor Fitzgerald began coverage on shares of M&T Bank in a research report on Wednesday, September 10th. They set an “overweight” rating and a $228.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of M&T Bank from $175.00 to $185.00 and gave the company an “underweight” rating in a research report on Thursday, July 17th. Thirteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, M&T Bank currently has an average rating of “Moderate Buy” and an average target price of $216.18.

Insider Buying and Selling

In related news, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $197.48, for a total value of $252,181.96. Following the transaction, the director owned 4,881 shares of the company’s stock, valued at approximately $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter D’arcy sold 2,461 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total transaction of $485,579.91. Following the completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $1,838,731.89. The trade was a 20.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,738 shares of company stock valued at $3,734,612. 0.53% of the stock is owned by insiders.

M&T Bank 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.