M&T Bank Co. (NYSE:MTB) Holdings Lifted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its position in M&T Bank Co. (NYSE:MTB) by 63.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,253 shares of the financial services provider’s stock after purchasing an additional 161,520 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.25% of M&T Bank worth $60,249,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Burns J W & Co. Inc. NY grew its stake in shares of M&T Bank by 1.3% in the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 80 shares during the period. First Horizon Advisors Inc. grew its position in M&T Bank by 3.2% during the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 80 shares during the last quarter. Sunbelt Securities Inc. grew its position in M&T Bank by 41.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. CI Investments Inc. grew its position in M&T Bank by 2.9% during the 3rd quarter. CI Investments Inc. now owns 3,722 shares of the financial services provider’s stock worth $471,000 after acquiring an additional 104 shares during the last quarter. Finally, Steamboat Capital Partners LLC grew its position in M&T Bank by 1.9% during the 3rd quarter. Steamboat Capital Partners LLC now owns 5,823 shares of the financial services provider’s stock worth $736,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Up 1.4 %

NYSE:MTB opened at $146.82 on Thursday. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $156.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $24.50 billion, a P/E ratio of 9.93, a P/E/G ratio of 2.88 and a beta of 0.78. The stock’s fifty day simple moving average is $146.94 and its 200-day simple moving average is $141.22.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the business earned $4.09 earnings per share. Equities research analysts expect that M&T Bank Co. will post 14.02 earnings per share for the current year.

M&T Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a $1.35 dividend. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, June 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.68%. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MTB. Keefe, Bruyette & Woods increased their price target on M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. DA Davidson restated a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Wells Fargo & Company increased their price target on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Jefferies Financial Group upped their price objective on M&T Bank from $151.00 to $160.00 and gave the stock a “hold” rating in a report on Tuesday, June 4th. Finally, Piper Sandler upped their price objective on M&T Bank from $152.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus target price of $159.79.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 16,179 shares of M&T Bank stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $148.01, for a total value of $2,394,653.79. Following the sale, the director now owns 6,348 shares of the company’s stock, valued at approximately $939,567.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other M&T Bank news, EVP Christopher E. Kay sold 1,821 shares of M&T Bank stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $153.78, for a total value of $280,033.38. Following the sale, the executive vice president now owns 8,579 shares of the company’s stock, valued at approximately $1,319,278.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kirk W. Walters sold 16,179 shares of M&T Bank stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $148.01, for a total value of $2,394,653.79. Following the completion of the sale, the director now directly owns 6,348 shares in the company, valued at approximately $939,567.48. The disclosure for this sale can be found here. Insiders have sold 97,553 shares of company stock valued at $14,724,147 in the last 90 days. 0.82% of the stock is currently owned by company 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.