Courier Capital LLC Has $4.57 Million Stock Position in M&T Bank Co. (NYSE:MTB)

Courier Capital LLC trimmed its position in M&T Bank Co. (NYSE:MTB) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,417 shares of the financial services provider’s stock after selling 362 shares during the quarter. Courier Capital LLC’s holdings in M&T Bank were worth $4,569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Burns J W & Co. Inc. NY boosted its holdings in shares of M&T Bank by 1.3% in the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after buying an additional 80 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of M&T Bank by 3.2% during the fourth quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 80 shares during the period. Fulton Bank N.A. raised its position in M&T Bank by 2.3% during the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock valued at $526,000 after acquiring an additional 81 shares in the last quarter. Sunbelt Securities Inc. raised its position in M&T Bank by 41.7% during the third quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 100 shares in the last quarter. Finally, Steamboat Capital Partners LLC raised its position in M&T Bank by 1.9% during the third quarter. Steamboat Capital Partners LLC now owns 5,823 shares of the financial services provider’s stock valued at $736,000 after acquiring an additional 109 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $164.00 price objective on shares of M&T Bank in a research report on Friday, June 21st. Jefferies Financial Group boosted their target price on shares of M&T Bank from $151.00 to $160.00 and gave the stock a “hold” rating in a research report on Tuesday, June 4th. StockNews.com downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Bank of America boosted their target price on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Evercore ISI upped their price target on shares of M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $161.51.

M&T Bank Stock Up 2.5 %

M&T Bank stock traded up $3.71 during trading on Friday, hitting $151.36. 1,964,535 shares of the company were exchanged, compared to its average volume of 1,046,750. The business’s 50 day moving average is $148.00 and its 200 day moving average is $141.76. 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 capitalization of $25.25 billion, a P/E ratio of 10.17, a PEG ratio of 2.89 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.

M&T Bank (NYSE:MTB) last announced 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 company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the company posted $4.09 EPS. Analysts predict that M&T Bank Co. will post 13.99 earnings per share for the current year.

M&T Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Monday, June 3rd. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio is 36.51%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 10,000 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $147.11, for a total value of $1,471,100.00. Following the completion of the transaction, the director now owns 34,545 shares in the company, valued at approximately $5,081,914.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John P. Barnes sold 10,000 shares of the stock in a transaction on Thursday, April 25th. The stock was 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 owns 34,545 shares in the company, valued at approximately $5,081,914.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John P. Barnes sold 43,426 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the transaction, the director now owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The disclosure for this sale can be found here. Insiders sold 97,553 shares of company stock worth $14,724,147 in the last quarter. 0.82% of the stock is currently owned by company insiders.

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.