FineMark National Bank & Trust Grows Position in M&T Bank Co. (MTB)

FineMark National Bank & Trust increased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,036 shares of the financial services provider’s stock after acquiring an additional 2,199 shares during the quarter. FineMark National Bank & Trust’s holdings in M&T Bank were worth $5,030,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Doyle Wealth Management acquired a new stake in M&T Bank during the fourth quarter worth about $29,000. Financial Gravity Companies Inc. acquired a new stake in M&T Bank during the fourth quarter worth about $30,000. JOYN Advisors Inc. raised its stake in M&T Bank by 141.4% during the fourth quarter. JOYN Advisors Inc. now owns 239 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 140 shares during the period. Liberty Wealth Management LLC raised its stake in M&T Bank by 972.7% during the first quarter. Liberty Wealth Management LLC now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 214 shares during the period. Finally, Pearl River Capital LLC acquired a new stake in M&T Bank during the first quarter worth about $42,000. Hedge funds and other institutional investors own 82.10% of the company’s stock.

Shares of NYSE:MTB opened at $163.78 on Friday. M&T Bank Co. has a 52 week low of $133.78 and a 52 week high of $185.61. The company has a market capitalization of $22.38 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.49 and a beta of 1.08. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.35 EPS for the quarter, beating the consensus estimate of $3.30 by $0.05. M&T Bank had a net margin of 30.84% and a return on equity of 14.46%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the business earned $2.23 earnings per share. Sell-side analysts predict that M&T Bank Co. will post 14.61 EPS for the current year.

MTB has been the topic of several research reports. Citigroup increased their price objective on shares of M&T Bank from $162.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Robert W. Baird lowered shares of M&T Bank from an “outperform” rating to a “neutral” rating and set a $175.00 price target on the stock. in a research note on Thursday, February 21st. ValuEngine upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Zacks Investment Research lowered shares of M&T Bank from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, UBS Group set a $169.00 price target on shares of M&T Bank and gave the company a “hold” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. M&T Bank presently has a consensus rating of “Hold” and an average target price of $179.25.

In other news, insider Brian E. Hickey sold 4,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $168.53, for a total value of $674,120.00. Following the completion of the transaction, the insider now directly owns 17,819 shares in the company, valued at $3,003,036.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michele D. Trolli sold 5,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $173.14, for a total transaction 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 13,221 shares of company stock valued at $2,259,658 over the last quarter. Insiders own 0.54% of the company’s stock.

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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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