Jacobi Capital Management LLC Grows Position in M&T Bank Corporation $MTB

Jacobi Capital Management LLC boosted its stake in M&T Bank Corporation (NYSE:MTB) by 1.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,136 shares of the financial services provider’s stock after purchasing an additional 87 shares during the quarter. Jacobi Capital Management LLC’s holdings in M&T Bank were worth $1,454,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Advisors Capital Management LLC grew its holdings in M&T Bank by 1.6% in the first quarter. Advisors Capital Management LLC now owns 185,017 shares of the financial services provider’s stock valued at $33,072,000 after purchasing an additional 2,932 shares during the period. Geneos Wealth Management Inc. grew its holdings in M&T Bank by 20.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,656 shares of the financial services provider’s stock valued at $296,000 after purchasing an additional 276 shares during the period. IFM Investors Pty Ltd grew its holdings in M&T Bank by 5.3% in the first quarter. IFM Investors Pty Ltd now owns 29,775 shares of the financial services provider’s stock valued at $5,322,000 after purchasing an additional 1,503 shares during the period. Focus Partners Wealth grew its holdings in M&T Bank by 3.8% in the first quarter. Focus Partners Wealth now owns 18,840 shares of the financial services provider’s stock valued at $3,368,000 after purchasing an additional 696 shares during the period. Finally, Integrity Alliance LLC. purchased a new stake in M&T Bank in the first quarter valued at approximately $623,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MTB shares. Morgan Stanley boosted their price objective on shares of M&T Bank from $206.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Citigroup boosted their price objective on shares of M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Jefferies Financial Group boosted their price objective on shares of M&T Bank from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. DA Davidson boosted their price objective on shares of M&T Bank from $189.00 to $207.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of M&T Bank in a research note on Monday, May 19th. Fourteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $214.31.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Peter D’arcy sold 2,461 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the sale, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $1,838,731.89. This represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $197.48, for a total transaction of $252,181.96. Following the sale, the director directly owned 4,881 shares in the company, valued at $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,738 shares of company stock valued at $3,734,612 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

M&T Bank Trading Down 0.1%

NYSE MTB opened at $198.03 on Friday. The company’s fifty day simple moving average is $195.55 and its 200-day simple moving average is $183.82. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $225.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. The stock has a market cap of $30.95 billion, a P/E ratio of 12.83, a PEG ratio of 0.97 and a beta of 0.67.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping analysts’ consensus estimates of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the previous year, the company posted $3.73 earnings per share. Equities research analysts predict that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a $1.50 dividend. This is a boost from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. M&T Bank’s dividend payout ratio is currently 38.86%.

M&T Bank Company Profile

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.