Dimensional Fund Advisors LP Raises Holdings in M&T Bank Co. (NYSE:MTB)

Dimensional Fund Advisors LP boosted its stake in M&T Bank Co. (NYSE:MTB) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,613,174 shares of the financial services provider’s stock after purchasing an additional 93,113 shares during the period. Dimensional Fund Advisors LP owned about 0.97% of M&T Bank worth $244,129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTB. General Partner Inc. purchased a new position in shares of M&T Bank in the first quarter worth $27,000. Fidelis Capital Partners LLC purchased a new position in shares of M&T Bank in the first quarter valued at about $30,000. Principal Securities Inc. bought a new position in shares of M&T Bank during the fourth quarter valued at about $34,000. Oakworth Capital Inc. purchased a new stake in shares of M&T Bank during the second quarter worth about $35,000. Finally, Mark Sheptoff Financial Planning LLC grew its stake in shares of M&T Bank by 677.4% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 412 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 359 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

M&T Bank stock opened at $174.05 on Thursday. The stock’s 50 day moving average is $166.48 and its 200 day moving average is $152.98. The company has a market capitalization of $29.04 billion, a P/E ratio of 11.77, a PEG ratio of 3.32 and a beta of 0.76. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $177.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period last year, the company earned $5.12 earnings per share. On average, equities research analysts predict that M&T Bank Co. will post 14.24 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.10%. M&T Bank’s dividend payout ratio is presently 36.51%.

Insider Activity

In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Robert E. Sadler, Jr. sold 1,000 shares of M&T Bank stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the sale, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock worth $5,115,349 over the last 90 days. 0.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Jefferies Financial Group upped their price target on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. DA Davidson lifted their price target on shares of M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Piper Sandler upped their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Evercore ISI lifted their target price on shares of M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Finally, StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $175.85.

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.