Buffington Mohr McNeal Sells 700 Shares of M&T Bank Co. (NYSE:MTB)

Buffington Mohr McNeal decreased its holdings in M&T Bank Co. (NYSE:MTB) by 17.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,350 shares of the financial services provider’s stock after selling 700 shares during the period. Buffington Mohr McNeal’s holdings in M&T Bank were worth $487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC boosted its holdings in shares of M&T Bank by 26.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 8,964 shares of the financial services provider’s stock worth $1,133,000 after purchasing an additional 1,853 shares during the period. Bank of Nova Scotia boosted its stake in M&T Bank by 13.1% during the third quarter. Bank of Nova Scotia now owns 16,354 shares of the financial services provider’s stock worth $2,068,000 after buying an additional 1,900 shares during the period. Rehmann Capital Advisory Group increased its position in M&T Bank by 12.2% during the third quarter. Rehmann Capital Advisory Group now owns 2,287 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 249 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of M&T Bank by 45.7% in the third quarter. Lazard Asset Management LLC now owns 5,745 shares of the financial services provider’s stock valued at $725,000 after acquiring an additional 1,803 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of M&T Bank by 371.7% in the 3rd quarter. AQR Capital Management LLC now owns 58,099 shares of the financial services provider’s stock worth $7,347,000 after acquiring an additional 45,783 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Up 1.3 %

Shares of NYSE:MTB traded up $1.91 during trading on Tuesday, reaching $151.73. The stock had a trading volume of 790,327 shares, compared to its average volume of 1,043,653. The firm’s 50-day simple moving average is $148.41 and its 200 day simple moving average is $142.06. 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 Co. has a one year low of $108.53 and a one year high of $156.65. The company has a market capitalization of $25.32 billion, a P/E ratio of 10.26, a PEG ratio of 2.97 and a beta of 0.77.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the business earned $4.09 EPS. As a group, research analysts expect that M&T Bank Co. will post 13.99 EPS for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a dividend of $1.35 per share. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.56%. M&T Bank’s payout ratio is presently 36.51%.

Insider Activity

In related news, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the completion of the sale, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Christopher E. Kay sold 1,821 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $153.78, for a total value of $280,033.38. Following the transaction, the executive vice president now owns 8,579 shares in the company, valued at approximately $1,319,278.62. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at $464,662.02. The disclosure for this sale can be found here. Insiders have sold a total of 97,553 shares of company stock worth $14,724,147 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a report on Wednesday, April 10th. JPMorgan Chase & Co. increased their target price on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Evercore ISI upped their target price on shares of M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $161.51.

About M&T Bank

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.