MONECO Advisors LLC Has $501,000 Stock Holdings in M&T Bank Co. (NYSE:MTB)

MONECO Advisors LLC boosted its stake in M&T Bank Co. (NYSE:MTB) by 16.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,653 shares of the financial services provider’s stock after acquiring an additional 512 shares during the quarter. MONECO Advisors LLC’s holdings in M&T Bank were worth $501,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTB. HHM Wealth Advisors LLC acquired a new position in M&T Bank during the 4th quarter worth approximately $25,000. Headinvest LLC acquired a new position in M&T Bank during the third quarter worth $29,000. BKM Wealth Management LLC bought a new position in M&T Bank in the fourth quarter valued at $32,000. Creative Financial Designs Inc. ADV acquired a new stake in M&T Bank in the 4th quarter valued at $33,000. Finally, CVA Family Office LLC bought a new stake in M&T Bank during the 4th quarter worth about $33,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Doris P. Meister sold 1,675 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Doris P. Meister sold 3,961 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the sale, the executive vice president now directly owns 5,000 shares in the company, valued at approximately $718,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of M&T Bank stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $137.91, for a total transaction of $230,999.25. Following the sale, the executive vice president now directly owns 8,961 shares in the company, valued at $1,235,811.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,119 shares of company stock worth $6,679,812. 0.82% of the stock is currently owned by corporate insiders.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $146.13 on Thursday. M&T Bank Co. has a one year low of $108.53 and a one year high of $148.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. The firm has a market cap of $24.35 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 1.21 and a beta of 0.78. The stock’s fifty day moving average price is $141.47 and its two-hundred day moving average price is $134.29.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter last year, the firm earned $4.09 EPS. On average, equities analysts forecast that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Friday, March 1st. M&T Bank’s dividend payout ratio is currently 35.16%.

Wall Street Analyst Weigh In

MTB has been the topic of a number of recent research reports. Jefferies Financial Group lowered their target price on M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Wedbush reaffirmed an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods increased their price objective on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Wells Fargo & Company boosted their target price on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley increased their price target on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $158.48.

M&T Bank Company 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.