1,750 Shares in M&T Bank Corporation (MTB) Acquired by Bluestein R H & Co.
Bluestein R H & Co. bought a new stake in M&T Bank Corporation (NYSE:MTB) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,750 shares of the financial services provider’s stock, valued at approximately $282,000.
Other institutional investors have also recently bought and sold shares of the company. Dupont Capital Management Corp bought a new position in shares of M&T Bank during the second quarter worth about $140,000. QCI Asset Management Inc. NY raised its position in shares of M&T Bank by 0.3% during the second quarter. QCI Asset Management Inc. NY now owns 1,059 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 3 shares during the last quarter. Sun Life Financial INC raised its position in shares of M&T Bank by 8,576.9% during the second quarter. Sun Life Financial INC now owns 1,128 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 1,115 shares during the last quarter. Mosaic Family Wealth LLC raised its position in shares of M&T Bank by 5.3% during the second quarter. Mosaic Family Wealth LLC now owns 1,225 shares of the financial services provider’s stock worth $198,000 after acquiring an additional 62 shares during the last quarter. Finally, Wedbush Securities Inc. bought a new position in shares of M&T Bank during the third quarter worth about $206,000. Hedge funds and other institutional investors own 79.29% of the company’s stock.
M&T Bank Corporation (NYSE:MTB) traded down $1.82 during midday trading on Wednesday, reaching $170.43. The company had a trading volume of 598,300 shares, compared to its average volume of 748,776. M&T Bank Corporation has a fifty-two week low of $141.12 and a fifty-two week high of $176.62. The firm has a market capitalization of $25,926.28, a PE ratio of 19.62, a P/E/G ratio of 2.10 and a beta of 0.84. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.57.
M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.19). M&T Bank had a return on equity of 9.52% and a net margin of 23.97%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the business earned $2.10 EPS. sell-side analysts predict that M&T Bank Corporation will post 9.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, November 30th. This represents a $3.00 annualized dividend and a yield of 1.76%. M&T Bank’s dividend payout ratio is currently 34.64%.
In other M&T Bank news, insider Randolph Michael Kasum sold 800,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $0.08, for a total value of $64,000.00. Also, VP Michele D. Trolli sold 9,730 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $167.89, for a total value of $1,633,569.70. Following the completion of the sale, the vice president now directly owns 24,708 shares of the company’s stock, valued at approximately $4,148,226.12. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 671,000 shares of company stock valued at $55,870 and have sold 1,690,680 shares valued at $1,903,281. Company insiders own 3.18% of the company’s stock.
A number of brokerages have recently issued reports on MTB. Nomura raised their price objective on M&T Bank from $145.00 to $162.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Wells Fargo & Company began coverage on M&T Bank in a research report on Wednesday, August 9th. They set a “market perform” rating and a $170.00 price objective for the company. Robert W. Baird restated a “sell” rating and set a $145.00 price objective on shares of M&T Bank in a research report on Friday, October 20th. Zacks Investment Research downgraded M&T Bank from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Finally, Citigroup restated a “neutral” rating and set a $170.00 price objective (up from $160.00) on shares of M&T Bank in a research report on Monday, October 9th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $162.56.
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About M&T Bank
M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.
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