Sky Investment Group LLC Buys 175 Shares of M&T Bank Co. (MTB)

Sky Investment Group LLC grew its stake in shares of M&T Bank Co. (NYSE:MTB) by 0.7% during the first quarter, Holdings Channel reports. The institutional investor owned 26,613 shares of the financial services provider’s stock after purchasing an additional 175 shares during the quarter. Sky Investment Group LLC’s holdings in M&T Bank were worth $4,179,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Liberty Wealth Management LLC grew its stake in shares of M&T Bank by 972.7% during the first quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock valued at $37,000 after buying an additional 214 shares during the last quarter. Baltimore Washington Financial Advisors Inc. bought a new position in shares of M&T Bank during the first quarter valued at about $313,000. Oakbrook Investments LLC grew its stake in shares of M&T Bank by 88.0% during the first quarter. Oakbrook Investments LLC now owns 13,735 shares of the financial services provider’s stock valued at $2,157,000 after buying an additional 6,430 shares during the last quarter. IFM Investors Pty Ltd grew its stake in shares of M&T Bank by 8.7% during the first quarter. IFM Investors Pty Ltd now owns 8,499 shares of the financial services provider’s stock valued at $1,335,000 after buying an additional 683 shares during the last quarter. Finally, Carroll Financial Associates Inc. grew its stake in shares of M&T Bank by 575.0% during the first quarter. Carroll Financial Associates Inc. now owns 675 shares of the financial services provider’s stock valued at $105,000 after buying an additional 575 shares during the last quarter. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Michele D. Trolli sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $173.14, for a total value of $865,700.00. Following the completion of the transaction, the vice president now directly owns 10,878 shares in the company, valued at approximately $1,883,416.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Darren J. King sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $164.56, for a total transaction of $1,645,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,766 shares of company stock valued at $2,977,668. 0.54% of the stock is owned by company insiders.

Several analysts have weighed in on MTB shares. Citigroup lifted their price objective on M&T Bank from $162.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Robert W. Baird cut M&T Bank from an “outperform” rating to a “neutral” rating and set a $175.00 price objective on the stock. in a research report on Thursday, February 21st. ValuEngine raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Zacks Investment Research lowered shares of M&T Bank from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Finally, UBS Group set a $169.00 target price on shares of M&T Bank and gave the company a “hold” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. M&T Bank currently has a consensus rating of “Hold” and a consensus target price of $179.25.

MTB stock opened at $166.34 on Friday. M&T Bank Co. has a 52-week low of $133.78 and a 52-week high of $187.07. The company has a market cap of $23.03 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05. The company has a quick ratio of 1.06, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

M&T Bank (NYSE:MTB) last released its earnings results on Monday, April 15th. The financial services provider reported $3.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.30 by $0.05. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the business earned $2.23 earnings per share. Sell-side analysts predict that M&T Bank Co. will post 14.58 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $4.00 dividend on an annualized basis and a yield of 2.40%. M&T Bank’s payout ratio is currently 31.10%.

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About M&T Bank

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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