Skandinaviska Enskilda Banken AB publ Has $5.19 Million Holdings in M&T Bank Co. (NYSE:MTB)

Skandinaviska Enskilda Banken AB publ lifted its stake in M&T Bank Co. (NYSE:MTB) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,316 shares of the financial services provider’s stock after buying an additional 400 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in M&T Bank were worth $5,194,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Principal Securities Inc. acquired a new stake in M&T Bank during the 4th quarter valued at $34,000. Jump Financial LLC acquired a new stake in M&T Bank during the 4th quarter valued at $203,000. Corient Private Wealth LLC increased its holdings in M&T Bank by 93.5% during the 4th quarter. Corient Private Wealth LLC now owns 48,351 shares of the financial services provider’s stock valued at $6,628,000 after purchasing an additional 23,362 shares in the last quarter. Trexquant Investment LP acquired a new stake in M&T Bank during the 4th quarter valued at $737,000. Finally, Congress Wealth Management LLC DE acquired a new stake in M&T Bank during the 4th quarter valued at $364,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 7,464 shares of M&T Bank stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the transaction, the director now owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,699 shares of company stock worth $5,115,349. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of recent research reports. Evercore ISI increased their price objective on M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. DA Davidson increased their price objective on M&T Bank from $159.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Citigroup increased their price objective on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Piper Sandler increased their price objective on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. upgraded M&T Bank from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $183.00 to $215.00 in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $175.85.

M&T Bank Price Performance

NYSE:MTB opened at $179.56 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50-day simple moving average is $167.47 and its 200 day simple moving average is $153.59. The company has a market cap of $29.96 billion, a P/E ratio of 12.14, a P/E/G ratio of 3.32 and a beta of 0.76. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $180.25.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The business 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 quarter in the previous year, the business earned $5.12 earnings per share. As a group, sell-side analysts forecast that M&T Bank Co. will post 14.24 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s payout ratio is currently 36.51%.

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.