Fiduciary Alliance LLC Lowers Position in M&T Bank Corporation $MTB

Fiduciary Alliance LLC cut its stake in M&T Bank Corporation (NYSE:MTB) by 22.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,295 shares of the financial services provider’s stock after selling 4,478 shares during the period. Fiduciary Alliance LLC’s holdings in M&T Bank were worth $3,321,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Fifth Third Wealth Advisors LLC raised its position in shares of M&T Bank by 15.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,677 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 225 shares in the last quarter. Hanson & Doremus Investment Management boosted its position in shares of M&T Bank by 5.7% during the first quarter. Hanson & Doremus Investment Management now owns 4,412 shares of the financial services provider’s stock valued at $912,000 after purchasing an additional 236 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of M&T Bank by 34.8% during the first quarter. SG Americas Securities LLC now owns 85,770 shares of the financial services provider’s stock valued at $17,730,000 after purchasing an additional 22,132 shares in the last quarter. SHP Wealth Management purchased a new stake in M&T Bank in the fourth quarter worth $183,000. Finally, Tobam purchased a new stake in M&T Bank in the fourth quarter worth $567,000. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their price objective on M&T Bank from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. UBS Group set a $235.00 target price on shares of M&T Bank in a report on Thursday, April 16th. Royal Bank Of Canada upped their target price on shares of M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday. The Goldman Sachs Group increased their price target on shares of M&T Bank from $231.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, April 6th. Finally, Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $235.58.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 3,105 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $216.50, for a total value of $672,232.50. Following the transaction, the executive vice president owned 6,753 shares in the company, valued at $1,462,024.50. The trade was a 31.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.44% of the stock is currently owned by insiders.

M&T Bank Stock Up 0.9%

MTB stock opened at $233.29 on Thursday. M&T Bank Corporation has a twelve month low of $174.76 and a twelve month high of $239.00. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The firm has a market cap of $34.17 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The business has a 50 day moving average of $217.81 and a 200 day moving average of $214.58.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.16. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the business earned $3.32 earnings per share. On average, research analysts forecast that M&T Bank Corporation will post 18.81 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, June 1st. M&T Bank’s payout ratio is currently 33.59%.

M&T Bank declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 31st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 16.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.