Kingswood Wealth Advisors LLC Makes New Investment in M&T Bank Co. (NYSE:MTB)

Kingswood Wealth Advisors LLC purchased a new position in shares of M&T Bank Co. (NYSE:MTB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,491 shares of the financial services provider’s stock, valued at approximately $479,000.

Several other large investors also recently modified their holdings of MTB. Raymond James & Associates boosted its stake in shares of M&T Bank by 7.0% in the 1st quarter. Raymond James & Associates now owns 134,655 shares of the financial services provider’s stock valued at $2,692,000 after purchasing an additional 8,765 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of M&T Bank by 112.8% in the 1st quarter. American Century Companies Inc. now owns 82,957 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 43,979 shares in the last quarter. US Bancorp DE boosted its stake in shares of M&T Bank by 9.4% in the 1st quarter. US Bancorp DE now owns 15,149 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 1,304 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of M&T Bank by 7.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 59,394 shares of the financial services provider’s stock valued at $1,187,000 after purchasing an additional 4,175 shares in the last quarter. Finally, AlphaCrest Capital Management LLC acquired a new stake in shares of M&T Bank in the 1st quarter valued at approximately $306,000. 84.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTB. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Piper Sandler lowered their price target on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. Morgan Stanley raised their price target on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. DA Davidson restated a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a report on Wednesday, March 6th. Finally, UBS Group raised their price target on shares of M&T Bank from $139.00 to $154.00 in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and an average target price of $149.71.

Insiders Place Their Bets

In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the transaction, the executive vice president now directly owns 8,961 shares of the company’s stock, valued at approximately $1,235,811.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. Insiders have sold 35,481 shares of company stock valued at $5,114,624 in the last three months. 0.82% of the stock is currently owned by insiders.

M&T Bank Stock Performance

NYSE MTB opened at $144.80 on Thursday. The company has a fifty day simple moving average of $138.81 and a 200 day simple moving average of $131.30. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.23. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The company has a market cap of $24.13 billion, a P/E ratio of 9.18, a PEG ratio of 1.26 and a beta of 0.79.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.36). M&T Bank had a net margin of 21.49% and a return on equity of 11.59%. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the business posted $4.57 EPS. Sell-side analysts predict that M&T Bank Co. will post 13.87 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 4th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Friday, March 1st. M&T Bank’s dividend payout ratio is 32.95%.

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 engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.