First Hawaiian Bank Has $764,000 Stock Position in M&T Bank Co. (NYSE:MTB)

First Hawaiian Bank decreased its position in shares of M&T Bank Co. (NYSE:MTB) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,049 shares of the financial services provider’s stock after selling 171 shares during the period. First Hawaiian Bank’s holdings in M&T Bank were worth $764,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. DAVENPORT & Co LLC lifted its position in shares of M&T Bank by 4.4% in the fourth quarter. DAVENPORT & Co LLC now owns 3,276 shares of the financial services provider’s stock worth $449,000 after buying an additional 139 shares during the last quarter. Arizona State Retirement System lifted its position in shares of M&T Bank by 0.8% during the 4th quarter. Arizona State Retirement System now owns 45,609 shares of the financial services provider’s stock worth $6,252,000 after purchasing an additional 356 shares during the last quarter. International Assets Investment Management LLC bought a new position in M&T Bank during the fourth quarter valued at about $11,759,000. Prime Capital Investment Advisors LLC bought a new position in M&T Bank during the fourth quarter valued at about $227,000. Finally, Tritonpoint Wealth LLC bought a new position in M&T Bank during the fourth quarter valued at about $513,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Trading Down 1.4 %

Shares of MTB stock traded down $2.33 during trading hours on Monday, reaching $159.96. The company had a trading volume of 1,354,351 shares, compared to its average volume of 1,046,797. The company has a 50 day moving average of $154.10 and a 200 day moving average of $146.36. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. The firm has a market cap of $26.69 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 3.34 and a beta of 0.77. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $176.44.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the prior year, the business posted $5.12 EPS. On average, equities research analysts anticipate that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were given a $1.35 dividend. 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 3.38%. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio is currently 36.51%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MTB. Evercore ISI upped their price objective on M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Citigroup upped their price objective on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Wedbush reiterated an “outperform” rating and issued a $170.00 price objective on shares of M&T Bank in a research note on Wednesday, April 10th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. upped their price objective on M&T Bank from $180.00 to $183.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $172.92.

Insider Activity at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 43,426 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the completion of the transaction, the director now owns 35,480 shares in the company, valued at approximately $5,481,660. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director John P. Barnes sold 43,426 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 35,480 shares in the company, valued at approximately $5,481,660. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $173.97, for a total transaction of $1,298,512.08. Following the completion of the sale, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. The disclosure for this sale can be found here. Insiders sold a total of 61,986 shares of company stock worth $9,730,154 in the last quarter. Corporate insiders own 0.82% of the company’s stock.

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.