Buffington Mohr McNeal Has $487,000 Holdings in M&T Bank Co. (NYSE:MTB)

Buffington Mohr McNeal decreased its position in M&T Bank Co. (NYSE:MTB) by 17.3% during the 1st quarter, according to its most recent Form 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 quarter. Buffington Mohr McNeal’s holdings in M&T Bank were worth $487,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Applied Capital LLC FL bought a new stake in M&T Bank in the 1st quarter valued at about $4,069,000. Synergy Asset Management LLC bought a new stake in shares of M&T Bank in the first quarter valued at approximately $2,746,000. Aviance Capital Partners LLC acquired a new stake in M&T Bank during the first quarter worth approximately $494,000. Fiduciary Alliance LLC bought a new position in M&T Bank during the 1st quarter worth $3,158,000. Finally, Cornerstone Wealth Group LLC acquired a new position in M&T Bank in the 1st quarter valued at $3,812,000. Institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company raised their price target on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. DA Davidson restated a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a research report on Tuesday, April 16th. Bank of America upped their price target on shares of M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada restated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. boosted 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $161.51.

Insider Buying and Selling at M&T Bank

In other news, EVP Christopher E. Kay sold 1,821 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $153.78, for a total value of $280,033.38. Following the transaction, the executive vice president now directly owns 8,579 shares of the company’s stock, valued at approximately $1,319,278.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Christopher E. Kay sold 1,821 shares of M&T Bank stock in a transaction 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 completion of the sale, the executive vice president now owns 8,579 shares in the company, valued at approximately $1,319,278.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Barnes sold 43,426 shares of the stock in a transaction on 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 transaction, the director now directly owns 35,480 shares in the company, valued at $5,481,660. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,553 shares of company stock valued at $14,724,147. 0.82% of the stock is currently owned by insiders.

M&T Bank Trading Up 1.3 %

Shares of NYSE MTB traded up $1.91 during trading on Tuesday, reaching $151.73. The company had a trading volume of 790,327 shares, compared to its average volume of 1,043,653. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $156.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.46. The stock has a market cap of $25.32 billion, a P/E ratio of 10.26, a PEG ratio of 2.97 and a beta of 0.77. The company’s fifty day moving average price is $148.41 and its 200-day moving average price is $142.06.

M&T Bank (NYSE:MTB) last released its earnings results 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). The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the prior year, the company posted $4.09 EPS. As a group, research analysts expect that M&T Bank Co. will post 13.99 earnings per share for the current year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were issued a $1.35 dividend. 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 annualized dividend and a yield of 3.56%. M&T Bank’s payout ratio is presently 36.51%.

M&T Bank 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.