SeaCrest Wealth Management LLC Sells 250 Shares of M&T Bank Co. (NYSE:MTB)

SeaCrest Wealth Management LLC reduced its stake in M&T Bank Co. (NYSE:MTB) by 14.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,476 shares of the financial services provider’s stock after selling 250 shares during the period. SeaCrest Wealth Management LLC’s holdings in M&T Bank were worth $215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MTB. HHM Wealth Advisors LLC bought a new position in shares of M&T Bank in the 4th quarter worth $25,000. General Partner Inc. bought a new position in shares of M&T Bank in the 1st quarter worth $27,000. Headinvest LLC bought a new position in shares of M&T Bank in the 3rd quarter worth $29,000. BKM Wealth Management LLC bought a new position in shares of M&T Bank in the 4th quarter worth $32,000. Finally, Creative Financial Designs Inc. ADV bought a new position in shares of M&T Bank in the 4th quarter worth $33,000. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MTB shares. JPMorgan Chase & Co. raised their price target on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. DA Davidson reiterated a “neutral” rating and set a $159.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $170.00 target price on shares of M&T Bank in a report on Thursday, June 27th. Finally, StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $161.58.

M&T Bank Price Performance

NYSE:MTB opened at $149.13 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $148.53 and its 200 day simple moving average is $142.17. The company has a market cap of $24.88 billion, a P/E ratio of 10.08, a P/E/G ratio of 2.98 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.

M&T Bank (NYSE:MTB) last released its 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 company had revenue of $2.26 billion during 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 firm posted $4.09 EPS. As a group, sell-side analysts forecast that M&T Bank Co. will post 13.99 EPS for the current fiscal year.

M&T Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were given a $1.35 dividend. The ex-dividend date was Monday, June 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.62%. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s payout ratio is currently 36.51%.

Insider Activity at M&T Bank

In related news, Director John P. Barnes sold 43,426 shares of M&T Bank stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the sale, the director now owns 35,480 shares of the company’s stock, valued at $5,481,660. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 16,179 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $148.01, for a total transaction of $2,394,653.79. Following the transaction, the director now owns 6,348 shares of the company’s stock, valued at $939,567.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John P. Barnes sold 43,426 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the transaction, the director now directly owns 35,480 shares in the company, valued at approximately $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 owned by insiders.

About M&T Bank

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.