Ameritas Investment Partners Inc. Cuts Stake in M&T Bank Co. (NYSE:MTB)

Ameritas Investment Partners Inc. decreased its holdings in M&T Bank Co. (NYSE:MTB) by 6.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,797 shares of the financial services provider’s stock after selling 118 shares during the period. Ameritas Investment Partners Inc.’s holdings in M&T Bank were worth $261,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MTB. HHM Wealth Advisors LLC purchased a new stake in M&T Bank during the 4th quarter valued at $25,000. General Partner Inc. purchased a new stake in M&T Bank during the 1st quarter valued at $27,000. Fidelis Capital Partners LLC purchased a new stake in M&T Bank during the 1st quarter valued at $30,000. CVA Family Office LLC purchased a new stake in M&T Bank during the 4th quarter valued at $33,000. Finally, Planned Solutions Inc. purchased a new stake in shares of M&T Bank in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. DA Davidson raised their target price on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Royal Bank of Canada raised their target price on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their price target on shares of M&T Bank from $180.00 to $183.00 and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Financial Group increased their price target on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $170.35.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $171.68 on Thursday. The firm’s 50-day moving average price is $151.51 and its 200-day moving average price is $144.50. The company has a quick ratio of 1.00, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The company has a market cap of $28.64 billion, a PE ratio of 11.61, a PEG ratio of 4.44 and a beta of 0.77. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $175.00.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter last year, the firm posted $5.12 EPS. As a group, analysts anticipate that M&T Bank Co. will post 14.16 EPS for the current year.

M&T Bank Increases Dividend

The firm also recently disclosed 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 an increase from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, June 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.15%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Buying and Selling

In related news, EVP Doris P. Meister sold 3,362 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $147.27, for a total value of $495,121.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 16,179 shares of M&T Bank stock in a transaction that occurred on Monday, May 6th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Doris P. Meister sold 3,362 shares of M&T Bank stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $147.27, for a total transaction of $495,121.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,915 shares of company stock valued at $13,026,659. 0.82% of the stock is owned by insiders.

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.