B. Riley Wealth Advisors Inc. Sells 106 Shares of M&T Bank Co. (NYSE:MTB)

B. Riley Wealth Advisors Inc. lessened its stake in shares of M&T Bank Co. (NYSE:MTB) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,891 shares of the financial services provider’s stock after selling 106 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in M&T Bank were worth $544,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in M&T Bank during the 4th quarter worth $38,000. Y.D. More Investments Ltd increased its position in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 114 shares during the period. Human Investing LLC bought a new position in shares of M&T Bank in the fourth quarter worth $44,000. Sierra Ocean LLC bought a new position in shares of M&T Bank in the fourth quarter worth $44,000. Finally, Loomis Sayles & Co. L P bought a new position in M&T Bank in the 4th quarter valued at about $52,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $183.08 on Friday. The stock has a market cap of $29.39 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average is $172.39 and its 200-day moving average is $188.12. M&T Bank Co. has a 1-year low of $139.78 and a 1-year high of $225.70.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the firm earned $3.09 earnings per share. Equities research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.95%. M&T Bank’s dividend payout ratio is 36.17%.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MTB shares. Jefferies Financial Group set a $225.00 target price on shares of M&T Bank and gave the company a “buy” rating in a report on Wednesday, May 21st. Piper Sandler decreased their price objective on shares of M&T Bank from $220.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of M&T Bank in a research note on Monday, May 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.53.

About M&T Bank

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.