Park Place Capital Corp Sells 80 Shares of M&T Bank Co. (NYSE:MTB)

Park Place Capital Corp lessened its holdings in M&T Bank Co. (NYSE:MTB) by 20.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 302 shares of the financial services provider’s stock after selling 80 shares during the quarter. Park Place Capital Corp’s holdings in M&T Bank were worth $44,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. HHM Wealth Advisors LLC bought a new stake in M&T Bank during the fourth quarter worth about $25,000. General Partner Inc. bought a new position in shares of M&T Bank in the first quarter worth about $27,000. BKM Wealth Management LLC acquired a new position in shares of M&T Bank in the fourth quarter valued at approximately $32,000. Headinvest LLC acquired a new position in shares of M&T Bank in the third quarter valued at approximately $29,000. Finally, CVA Family Office LLC acquired a new position in shares of M&T Bank in the fourth quarter valued at approximately $33,000. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In related news, EVP Doris P. Meister sold 1,638 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kirk W. Walters sold 16,179 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $148.01, for a total value of $2,394,653.79. Following the sale, the director now directly owns 6,348 shares of the company’s stock, valued at $939,567.48. The disclosure for this sale can be found here. Insiders have sold a total of 97,553 shares of company stock worth $14,724,147 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MTB shares. Piper Sandler reaffirmed an “overweight” rating and issued a $164.00 price objective on shares of M&T Bank in a research note on Friday, June 21st. Bank of America upped their price objective on M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $170.00 target price on shares of M&T Bank in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $161.51.

M&T Bank Price Performance

M&T Bank stock opened at $149.82 on Tuesday. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 2.97 and a beta of 0.77. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $156.65. The stock’s 50 day moving average price is $148.32 and its two-hundred day moving average price is $142.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate 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 in the previous year, the company posted $4.09 earnings per share. On average, equities analysts predict 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 boost from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Monday, June 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 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.