Flagship Harbor Advisors LLC Has $448,000 Position in M&T Bank Corporation (NYSE:MTB)

Flagship Harbor Advisors LLC lowered its position in M&T Bank Corporation (NYSE:MTB) by 8.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,506 shares of the financial services provider’s stock after selling 231 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in M&T Bank were worth $448,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MTB. Wood Tarver Financial Group LLC bought a new stake in shares of M&T Bank during the 4th quarter worth about $29,000. Banque Transatlantique SA bought a new stake in M&T Bank in the 4th quarter valued at $38,000. Grove Bank & Trust increased its stake in M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 114 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of M&T Bank in the 4th quarter valued at approximately $52,000. Finally, Investors Research Corp raised its stake in M&T Bank by 31.1% during the first quarter. Investors Research Corp now owns 295 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB opened at $190.97 on Thursday. M&T Bank Corporation has a one year low of $145.82 and a one year high of $225.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $30.65 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. The firm has a 50-day moving average of $178.57 and a 200-day moving average of $183.84.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.41 by ($0.03). The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. During the same period last year, the firm earned $3.09 earnings per share. As a group, equities analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Monday, June 2nd. M&T Bank’s dividend payout ratio is 36.17%.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the transaction, the director now directly owns 23,070 shares of the company’s stock, valued at $4,233,806.40. This trade represents a 22.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MTB has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of M&T Bank from $206.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. TD Cowen started coverage on M&T Bank in a report on Thursday, May 15th. They set a “buy” rating and a $230.00 price objective for the company. Truist Financial cut their price target on M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Citigroup raised their price objective on M&T Bank from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.88.

M&T Bank 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.