M&T Bank Corp Has $2.15 Million Position in Moelis & Company (NYSE:MC)

M&T Bank Corp cut its stake in Moelis & Company (NYSE:MC) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,349 shares of the asset manager’s stock after selling 537 shares during the quarter. M&T Bank Corp’s holdings in Moelis & Company were worth $2,148,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MC. Assenagon Asset Management S.A. bought a new position in Moelis & Company in the 3rd quarter valued at about $49,017,000. Natixis Advisors LLC boosted its holdings in shares of Moelis & Company by 179.2% during the second quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock worth $40,265,000 after acquiring an additional 454,478 shares during the period. Pier Capital LLC acquired a new position in shares of Moelis & Company in the third quarter valued at approximately $8,152,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Moelis & Company during the third quarter worth approximately $6,970,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Moelis & Company by 322.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 98,000 shares of the asset manager’s stock worth $6,714,000 after purchasing an additional 74,800 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. UBS Group upped their price objective on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Morgan Stanley upgraded shares of Moelis & Company from an “underweight” rating to an “overweight” rating and upped their price target for the company from $66.00 to $92.00 in a research note on Monday, December 9th. Finally, Wells Fargo & Company raised their price target on shares of Moelis & Company from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Moelis & Company has an average rating of “Hold” and an average price target of $66.50.

Moelis & Company Stock Performance

Shares of NYSE MC opened at $73.93 on Friday. Moelis & Company has a 52 week low of $46.24 and a 52 week high of $81.60. The stock has a market capitalization of $5.54 billion, a P/E ratio of 139.49 and a beta of 1.37. The stock’s fifty day moving average is $72.47 and its 200 day moving average is $65.67.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $273.76 million for the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.15) EPS. Equities research analysts forecast that Moelis & Company will post 0.96 earnings per share for the current year.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.25%. Moelis & Company’s dividend payout ratio (DPR) is presently 452.83%.

Moelis & Company Company Profile

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.