Hudson Valley Investment Advisors Inc. ADV cut its holdings in shares of M&T Bank Co. (NYSE:MTB) by 6.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,995 shares of the financial services provider’s stock after selling 371 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in M&T Bank were worth $789,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Giverny Capital Inc. raised its holdings in M&T Bank by 7.2% during the second quarter. Giverny Capital Inc. now owns 135,586 shares of the financial services provider’s stock valued at $23,059,000 after acquiring an additional 9,143 shares during the period. Advisory Services Network LLC increased its holdings in shares of M&T Bank by 2.3% in the second quarter. Advisory Services Network LLC now owns 4,591 shares of the financial services provider’s stock worth $781,000 after purchasing an additional 102 shares during the last quarter. USS Investment Management Ltd bought a new stake in shares of M&T Bank in the second quarter worth about $10,846,000. NN Investment Partners Holdings N.V. bought a new stake in shares of M&T Bank in the second quarter worth about $2,062,000. Finally, Andra AP fonden increased its holdings in shares of M&T Bank by 139.6% in the second quarter. Andra AP fonden now owns 11,500 shares of the financial services provider’s stock worth $1,956,000 after purchasing an additional 6,700 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on MTB. ValuEngine raised M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Zacks Investment Research cut M&T Bank from a “hold” rating to a “sell” rating and set a $166.00 target price on the stock. in a report on Wednesday, September 18th. Wedbush reduced their target price on M&T Bank from $166.00 to $163.00 and set a “neutral” rating on the stock in a report on Friday. JPMorgan Chase & Co. lifted their target price on M&T Bank from $173.00 to $174.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Finally, Piper Jaffray Companies cut M&T Bank from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $196.00 to $168.00 in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $168.75.
MTB opened at $152.23 on Friday. The firm has a market cap of $20.33 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.22 and a beta of 1.10. M&T Bank Co. has a 12 month low of $133.78 and a 12 month high of $176.11. The company has a current ratio of 1.01, a quick ratio of 1.06 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average of $153.66 and a 200 day moving average of $160.99.
M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $3.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.59 by ($0.12). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.53 billion. M&T Bank had a return on equity of 13.82% and a net margin of 28.58%. During the same quarter in the prior year, the business posted $3.53 EPS. On average, research analysts forecast that M&T Bank Co. will post 13.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.00 annualized dividend and a yield of 2.63%. M&T Bank’s dividend payout ratio is currently 31.10%.
M&T Bank Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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