Principal Securities Inc. Takes Position in M&T Bank Co. (NYSE:MTB)

Principal Securities Inc. purchased a new stake in M&T Bank Co. (NYSE:MTB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 247 shares of the financial services provider’s stock, valued at approximately $34,000.

Several other large investors have also modified their holdings of MTB. HHM Wealth Advisors LLC acquired a new stake in M&T Bank during the fourth quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new stake in M&T Bank during the fourth quarter worth approximately $32,000. Headinvest LLC acquired a new stake in M&T Bank during the third quarter worth approximately $29,000. CVA Family Office LLC acquired a new stake in M&T Bank during the fourth quarter worth approximately $33,000. Finally, Planned Solutions Inc. acquired a new stake in M&T Bank during the fourth quarter worth approximately $33,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at approximately $923,215. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other M&T Bank news, Director John P. Barnes sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the completion of the transaction, the director now directly owns 34,545 shares of the company’s stock, valued at approximately $5,081,914.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The disclosure for this sale can be found here. Insiders sold a total of 130,359 shares of company stock valued at $19,475,472 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTB. Keefe, Bruyette & Woods raised their target price on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. Wells Fargo & Company lifted their price target on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Evercore ISI lifted their price target on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Finally, StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $158.48.

M&T Bank Stock Performance

Shares of MTB stock opened at $150.66 on Monday. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $156.65. The company has a market cap of $25.14 billion, a PE ratio of 10.19, a P/E/G ratio of 2.95 and a beta of 0.78. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $145.28 and its 200-day simple moving average is $138.61.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the firm earned $4.09 EPS. As a group, equities research analysts anticipate that M&T Bank Co. will post 14.02 EPS for the current year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be issued a dividend of $1.35 per share. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 3.58%. The ex-dividend date is Monday, June 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 35.16%.

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.