Norway Savings Bank Acquires 360 Shares of M&T Bank Co. (MTB)

Norway Savings Bank increased its stake in shares of M&T Bank Co. (NYSE:MTB) by 8.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,695 shares of the financial services provider’s stock after buying an additional 360 shares during the quarter. Norway Savings Bank’s holdings in M&T Bank were worth $737,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Doyle Wealth Management acquired a new stake in shares of M&T Bank in the 4th quarter valued at about $29,000. Financial Gravity Companies Inc. acquired a new stake in shares of M&T Bank in the 4th quarter valued at about $30,000. JOYN Advisors Inc. boosted its position in shares of M&T Bank by 141.4% in the 4th quarter. JOYN Advisors Inc. now owns 239 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 140 shares during the period. Lindbrook Capital LLC acquired a new stake in shares of M&T Bank in the 4th quarter valued at about $47,000. Finally, CX Institutional acquired a new stake in shares of M&T Bank in the 1st quarter valued at about $47,000. Hedge funds and other institutional investors own 81.00% of the company’s stock.

NYSE:MTB opened at $170.36 on Friday. M&T Bank Co. has a 12 month low of $133.78 and a 12 month high of $187.07. The stock has a market capitalization of $23.59 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.55 and a beta of 1.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.06 and a current ratio of 1.01.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.30 by $0.05. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. M&T Bank had a return on equity of 14.46% and a net margin of 30.84%. During the same period in the previous year, the company earned $2.23 earnings per share. Equities research analysts anticipate that M&T Bank Co. will post 14.61 EPS for the current fiscal year.

In related news, insider William J. Farrell II sold 1,476 shares of M&T Bank stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $169.43, for a total value of $250,078.68. Following the completion of the transaction, the insider now directly owns 13,844 shares in the company, valued at $2,345,588.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michele D. Trolli sold 5,000 shares of M&T Bank 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 owns 10,878 shares of the company’s stock, valued at $1,883,416.92. The disclosure for this sale can be found here. Insiders sold 11,608 shares of company stock valued at $1,985,297 over the last quarter. Insiders own 0.54% of the company’s stock.

Several analysts have commented on the company. ValuEngine downgraded M&T Bank from a “hold” rating to a “sell” rating in a research note on Thursday, January 31st. UBS Group raised M&T Bank from a “sell” rating to a “neutral” rating in a research note on Tuesday, January 8th. Morgan Stanley cut their target price on M&T Bank from $175.00 to $173.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 8th. Wedbush upped their price target on M&T Bank from $150.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Barclays upped their price target on M&T Bank from $207.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $179.25.

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M&T Bank Profile

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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