Dopkins Wealth Management LLC Acquires 273 Shares of M&T Bank Corporation (NYSE:MTB)

Dopkins Wealth Management LLC grew its holdings in M&T Bank Corporation (NYSE:MTB) by 4.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,237 shares of the financial services provider’s stock after purchasing an additional 273 shares during the period. Dopkins Wealth Management LLC’s holdings in M&T Bank were worth $1,115,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MTB. Principal Securities Inc. increased its stake in shares of M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 132 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after buying an additional 52 shares in the last quarter. D.A. Davidson & CO. acquired a new position in shares of M&T Bank during the fourth quarter worth $663,000. Venturi Wealth Management LLC increased its holdings in shares of M&T Bank by 26.8% during the fourth quarter. Venturi Wealth Management LLC now owns 619 shares of the financial services provider’s stock worth $116,000 after buying an additional 131 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of M&T Bank by 9.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,736 shares of the financial services provider’s stock worth $326,000 after buying an additional 156 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the subject of several research analyst reports. Wells Fargo & Company lowered their price target on shares of M&T Bank from $185.00 to $175.00 and set an “underweight” rating for the company in a report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a report on Thursday, April 24th. Robert W. Baird lowered their price target on shares of M&T Bank from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Piper Sandler lowered their price target on shares of M&T Bank from $220.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Finally, Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

M&T Bank Stock Performance

Shares of MTB opened at $184.74 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $29.65 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.34 and a beta of 0.62. The firm’s fifty day simple moving average is $176.69 and its two-hundred day simple moving average is $183.90. M&T Bank Corporation has a 12 month low of $145.82 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. During the same period last year, the company posted $3.09 EPS. As a group, analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.92%. M&T Bank’s dividend payout ratio (DPR) is currently 36.17%.

Insider Buying and Selling at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the transaction, the director now owns 23,070 shares of the company’s stock, valued at $4,233,806.40. This represents a 22.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.53% of the company’s stock.

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.