B. Riley Wealth Advisors Inc. Lowers Stock Holdings in M&T Bank Co. (NYSE:MTB)

B. Riley Wealth Advisors Inc. cut its stake in shares of M&T Bank Co. (NYSE:MTB) by 15.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,870 shares of the financial services provider’s stock after selling 915 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in M&T Bank were worth $668,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MTB. Massachusetts Financial Services Co. MA boosted its holdings in shares of M&T Bank by 0.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock valued at $237,265,000 after acquiring an additional 4,419 shares in the last quarter. Norges Bank purchased a new stake in M&T Bank in the 4th quarter valued at approximately $232,322,000. Northern Trust Corp increased its position in M&T Bank by 3.7% during the 3rd quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock worth $211,404,000 after purchasing an additional 59,690 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of M&T Bank by 7.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,451,856 shares of the financial services provider’s stock worth $199,037,000 after buying an additional 100,008 shares in the last quarter. Finally, London Co. of Virginia lifted its holdings in shares of M&T Bank by 23.2% in the 3rd quarter. London Co. of Virginia now owns 1,118,296 shares of the financial services provider’s stock valued at $141,409,000 after buying an additional 210,821 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,821 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $153.78, for a total transaction of $280,033.38. Following the completion of the transaction, the executive vice president now directly owns 8,579 shares in the company, valued at approximately $1,319,278.62. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Christopher E. Kay sold 1,821 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $153.78, for a total transaction of $280,033.38. Following the completion of the transaction, the executive vice president now owns 8,579 shares of the company’s stock, valued at $1,319,278.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Doris P. Meister sold 1,638 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,553 shares of company stock valued at $14,724,147. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Piper Sandler reissued an “overweight” rating and set a $164.00 price objective on shares of M&T Bank in a research note on Friday. JPMorgan Chase & Co. upped their price target 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. Jefferies Financial Group raised their target price on shares of M&T Bank from $151.00 to $160.00 and gave the company a “hold” rating in a research note on Tuesday, June 4th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $159.79.

M&T Bank Stock Down 0.2 %

MTB stock opened at $147.51 on Friday. The firm has a market cap of $24.61 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 2.90 and a beta of 0.78. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $156.65. The firm has a fifty day moving average price of $147.45 and a two-hundred day moving average price of $141.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00.

M&T Bank (NYSE:MTB) last released 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). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the company earned $4.09 EPS. Research analysts predict that M&T Bank Co. will post 13.99 EPS for the current year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be issued a $1.35 dividend. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, June 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.66%. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

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.