Welch & Forbes LLC Grows Position in M&T Bank Co. (NYSE:MTB)

Welch & Forbes LLC increased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 8.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,242 shares of the financial services provider’s stock after purchasing an additional 177 shares during the quarter. Welch & Forbes LLC’s holdings in M&T Bank were worth $307,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. HHM Wealth Advisors LLC purchased a new stake in shares of M&T Bank in the 4th quarter valued at $25,000. Headinvest LLC purchased a new stake in M&T Bank during the third quarter worth about $29,000. BKM Wealth Management LLC acquired a new stake in shares of M&T Bank during the fourth quarter worth about $32,000. Creative Financial Designs Inc. ADV purchased a new position in shares of M&T Bank in the fourth quarter valued at approximately $33,000. Finally, CVA Family Office LLC acquired a new position in shares of M&T Bank in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MTB shares. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Bank of America upped their price target on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Piper Sandler decreased their price objective on M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, January 19th. Finally, UBS Group upped their target price on shares of M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus price target of $158.48.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 3,362 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $147.27, for a total transaction of $495,121.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Doris P. Meister sold 3,362 shares of M&T Bank stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $147.27, for a total transaction of $495,121.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,020 shares of company stock worth $11,533,507. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB traded up $1.65 during mid-day trading on Wednesday, hitting $149.96. 335,994 shares of the company’s stock were exchanged, compared to its average volume of 1,141,108. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $150.85. The business’s 50 day moving average is $142.27 and its two-hundred day moving average is $135.15. The firm has a market capitalization of $24.99 billion, a P/E ratio of 10.03, a P/E/G ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the business posted $4.09 earnings per share. On average, equities analysts expect that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is presently 35.16%.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.