DNB Asset Management AS grew its position in M&T Bank Co. (NYSE:MTB – Free Report) by 2.8% during the 4th quarter, Holdings Channel reports. The fund owned 35,112 shares of the financial services provider’s stock after buying an additional 953 shares during the quarter. DNB Asset Management AS’s holdings in M&T Bank were worth $4,813,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Clear Street Markets LLC acquired a new position in M&T Bank during the fourth quarter worth $25,000. Stonebridge Capital Advisors LLC grew its holdings in M&T Bank by 1,980.0% in the second quarter. Stonebridge Capital Advisors LLC now owns 208 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 198 shares during the last quarter. RVW Wealth LLC acquired a new position in shares of M&T Bank during the 3rd quarter worth $27,000. Quarry LP purchased a new stake in shares of M&T Bank in the 1st quarter worth about $27,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of M&T Bank during the 1st quarter worth approximately $27,000. Hedge funds and other institutional investors own 82.86% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on MTB shares. Barclays increased their target price on M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Morgan Stanley lifted their price objective on M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Royal Bank of Canada restated an “outperform” rating and issued a $160.00 target price on shares of M&T Bank in a report on Friday, January 19th. Piper Sandler lowered their price target on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, January 19th. Finally, StockNews.com downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $149.71.
View Our Latest Analysis on MTB
M&T Bank Price Performance
M&T Bank stock opened at $140.53 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $23.42 billion, a P/E ratio of 8.91, a PEG ratio of 1.27 and a beta of 0.79. The firm has a fifty day moving average of $137.79 and a 200-day moving average of $130.37. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $148.23.
M&T Bank (NYSE:MTB – Get Free Report) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $2.74 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.36). M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the firm earned $4.57 EPS. As a group, analysts predict that M&T Bank Co. will post 13.88 EPS for the current year.
M&T Bank Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 4th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Friday, March 1st. M&T Bank’s dividend payout ratio is presently 32.95%.
Insider Buying and Selling at M&T Bank
In other news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the transaction, the executive vice president now directly owns 7,274 shares in the company, valued at $962,350.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the completion of the transaction, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The disclosure for this sale can be found here. Insiders sold 35,481 shares of company stock valued at $5,114,624 over the last 90 days. 0.82% of the stock is owned by corporate 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.
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