Vanguard Personalized Indexing Management LLC Raises Stock Holdings in M&T Bank Co. (NYSE:MTB)

Vanguard Personalized Indexing Management LLC raised its position in M&T Bank Co. (NYSE:MTB) by 31.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,530 shares of the financial services provider’s stock after buying an additional 2,766 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in M&T Bank were worth $1,706,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTB. General Partner Inc. purchased a new stake in M&T Bank in the first quarter valued at approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in M&T Bank in the first quarter valued at approximately $30,000. Principal Securities Inc. purchased a new stake in M&T Bank in the fourth quarter valued at approximately $34,000. Oakworth Capital Inc. purchased a new stake in M&T Bank in the second quarter valued at approximately $35,000. Finally, Versant Capital Management Inc lifted its stake in M&T Bank by 82.7% in the second quarter. Versant Capital Management Inc now owns 444 shares of the financial services provider’s stock valued at $67,000 after buying an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

NYSE MTB opened at $179.56 on Friday. The business’s 50-day moving average price is $167.47 and its 200 day moving average price is $153.51. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $180.25. The company has a market capitalization of $29.96 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 3.32 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The company had revenue of $3.37 billion for 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 business posted $5.12 EPS. On average, research analysts predict that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.01%. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Insider Transactions at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Denis J. Salamone sold 10,000 shares of the 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 sale, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Gary N. Geisel sold 500 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now owns 16,429 shares of the company’s stock, valued at approximately $2,834,002.50. 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 in the last three months. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Piper Sandler upped their price target on M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Wells Fargo & Company cut M&T Bank from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $170.00 to $165.00 in a research note on Thursday, August 15th. Bank of America upped their price target on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group upped their price target on 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, Royal Bank of Canada upped their price target on M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $175.85.

M&T Bank 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.