Steamboat Capital Partners LLC Purchases New Holdings in M&T Bank Co. (NYSE:MTB)

Steamboat Capital Partners LLC purchased a new stake in M&T Bank Co. (NYSE:MTB) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,000 shares of the financial services provider’s stock, valued at approximately $717,000.

Several other institutional investors have also made changes to their positions in MTB. Clear Street Markets LLC bought a new stake in shares of M&T Bank in the fourth quarter valued at approximately $25,000. Quarry LP bought a new stake in shares of M&T Bank in the first quarter valued at approximately $27,000. Janiczek Wealth Management LLC boosted its stake in shares of M&T Bank by 358.2% in the first quarter. Janiczek Wealth Management LLC now owns 252 shares of the financial services provider’s stock valued at $29,000 after buying an additional 197 shares during the period. Annapolis Financial Services LLC boosted its stake in shares of M&T Bank by 42.7% in the first quarter. Annapolis Financial Services LLC now owns 311 shares of the financial services provider’s stock valued at $37,000 after buying an additional 93 shares during the period. Finally, CVA Family Office LLC boosted its stake in shares of M&T Bank by 191.3% in the first quarter. CVA Family Office LLC now owns 335 shares of the financial services provider’s stock valued at $40,000 after buying an additional 220 shares during the period. 82.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MTB. Morgan Stanley restated an “overweight” rating and set a $155.00 price objective on shares of M&T Bank in a research report on Friday, July 21st. Wells Fargo & Company dropped their price objective on M&T Bank from $145.00 to $140.00 in a research report on Thursday, July 6th. Barclays decreased their target price on M&T Bank from $153.00 to $150.00 in a research report on Tuesday, June 27th. Wedbush increased their target price on shares of M&T Bank from $149.00 to $156.00 and gave the stock an “outperform” rating in a report on Thursday, July 20th. Finally, StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $157.27.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 53,542 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $140.00, for a total value of $7,495,880.00. Following the completion of the sale, the director now directly owns 34,545 shares in the company, valued at approximately $4,836,300. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $136.02, for a total transaction of $136,020.00. Following the completion of the transaction, the executive vice president now directly owns 7,055 shares in the company, valued at $959,621.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Barnes sold 53,542 shares of M&T Bank stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $140.00, for a total transaction of $7,495,880.00. Following the transaction, the director now owns 34,545 shares of the company’s stock, valued at $4,836,300. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,876 shares of company stock valued at $7,819,234. Corporate insiders own 0.97% of the company’s stock.

M&T Bank Trading Up 2.7 %

NYSE:MTB traded up $3.46 on Tuesday, reaching $129.62. 714,615 shares of the stock traded hands, compared to its average volume of 1,486,311. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. M&T Bank Co. has a 1-year low of $109.36 and a 1-year high of $192.56. The company’s 50 day moving average is $131.46 and its 200-day moving average is $126.86. The firm has a market capitalization of $21.51 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 0.89 and a beta of 0.81.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $5.05 earnings per share for the quarter, topping the consensus estimate of $4.16 by $0.89. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.39 billion. M&T Bank had a net margin of 26.30% and a return on equity of 13.26%. During the same period in the prior year, the company posted $3.10 earnings per share. Equities research analysts anticipate that M&T Bank Co. will post 16.43 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, August 31st. M&T Bank’s payout ratio is 30.81%.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that offer retail and commercial banking products and services in the United States. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.