Kestra Advisory Services LLC Raises Stake in M&T Bank Co. (NYSE:MTB)

Kestra Advisory Services LLC boosted its stake in M&T Bank Co. (NYSE:MTBGet Rating) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,270 shares of the financial services provider’s stock after acquiring an additional 554 shares during the quarter. Kestra Advisory Services LLC’s holdings in M&T Bank were worth $1,811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WASHINGTON TRUST Co boosted its holdings in M&T Bank by 77.4% in the 2nd quarter. WASHINGTON TRUST Co now owns 188 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 82 shares during the period. SRS Capital Advisors Inc. boosted its holdings in M&T Bank by 712.5% in the 2nd quarter. SRS Capital Advisors Inc. now owns 195 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 171 shares during the period. TCI Wealth Advisors Inc. boosted its holdings in M&T Bank by 1,523.1% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 211 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 198 shares during the period. Ronald Blue Trust Inc. boosted its holdings in M&T Bank by 148.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 219 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 131 shares during the period. Finally, Private Trust Co. NA purchased a new position in M&T Bank in the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 84.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods cut M&T Bank from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $215.00 to $180.00 in a report on Tuesday, December 6th. JPMorgan Chase & Co. reduced their target price on M&T Bank from $180.00 to $153.00 and set a “neutral” rating for the company in a research note on Tuesday, December 13th. Wedbush upgraded M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 target price for the company in a research note on Tuesday, January 3rd. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Citigroup reduced their target price on M&T Bank from $200.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday, October 21st. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $182.72.

M&T Bank Price Performance

Shares of NYSE MTB opened at $153.69 on Monday. M&T Bank Co. has a 1-year low of $138.43 and a 1-year high of $193.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.91 and a quick ratio of 0.96. The business’s fifty day moving average price is $154.22 and its two-hundred day moving average price is $168.57. The firm has a market capitalization of $26.53 billion, a PE ratio of 13.34, a P/E/G ratio of 0.86 and a beta of 0.83.

M&T Bank (NYSE:MTBGet Rating) last issued its earnings results on Thursday, January 19th. The financial services provider reported $4.29 earnings per share for the quarter, missing the consensus estimate of $4.50 by ($0.21). M&T Bank had a return on equity of 11.41% and a net margin of 23.15%. During the same period last year, the business earned $3.37 earnings per share. On average, research analysts expect that M&T Bank Co. will post 18.24 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 1st were paid a $1.20 dividend. The ex-dividend date was Wednesday, November 30th. This represents a $4.80 annualized dividend and a dividend yield of 3.12%. M&T Bank’s payout ratio is 41.67%.

M&T Bank Company Profile

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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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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