Kathmere Capital Management LLC Grows Position in M&T Bank Corporation (NYSE:MTB)

Kathmere Capital Management LLC increased its position in shares of M&T Bank Corporation (NYSE:MTB) by 6.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,004 shares of the financial services provider’s stock after acquiring an additional 126 shares during the period. Kathmere Capital Management LLC’s holdings in M&T Bank were worth $358,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wood Tarver Financial Group LLC acquired a new position in M&T Bank during the 4th quarter worth about $29,000. Banque Transatlantique SA acquired a new position in M&T Bank during the 4th quarter worth about $38,000. Grove Bank & Trust lifted its stake in M&T Bank by 104.6% during the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 114 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in M&T Bank during the 1st quarter worth about $46,000. Finally, Loomis Sayles & Co. L P acquired a new position in M&T Bank during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total value of $1,229,584.00. Following the transaction, the director directly owned 23,070 shares in the company, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on M&T Bank from $185.00 to $175.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 15th. Jefferies Financial Group set a $225.00 price target on M&T Bank and gave the company a “buy” rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price target on M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of M&T Bank in a research report on Monday, May 19th. Finally, Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.48.

M&T Bank Trading Down 1.2%

NYSE:MTB opened at $201.67 on Monday. The stock’s 50 day moving average price is $186.49 and its 200 day moving average price is $184.02. The company has a market capitalization of $32.37 billion, a PE ratio of 13.51, a P/E/G ratio of 1.46 and a beta of 0.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.39. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (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 analysts’ expectations of $2.35 billion. M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. During the same quarter in the prior year, the business earned $3.09 EPS. On average, research analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.68%. M&T Bank’s dividend payout ratio (DPR) is currently 36.17%.

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.