Hsbc Holdings PLC Has $66.10 Million Stake in M&T Bank Co. (NYSE:MTB)

Hsbc Holdings PLC lifted its stake in shares of M&T Bank Co. (NYSE:MTB) by 0.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 436,225 shares of the financial services provider’s stock after acquiring an additional 1,298 shares during the period. Hsbc Holdings PLC owned 0.26% of M&T Bank worth $66,097,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of M&T Bank by 4.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after purchasing an additional 81,004 shares during the period. Dimensional Fund Advisors LP raised its stake in M&T Bank by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after buying an additional 93,113 shares during the period. Bank of New York Mellon Corp boosted its holdings in M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after acquiring an additional 44,442 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after acquiring an additional 319,051 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in M&T Bank by 8.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 546,751 shares of the financial services provider’s stock valued at $74,949,000 after acquiring an additional 41,523 shares during the period. 84.68% of the stock is owned by institutional investors.

M&T Bank Trading Up 3.3 %

Shares of M&T Bank stock opened at $179.86 on Friday. The firm has a market cap of $30.01 billion, a PE ratio of 12.16, a P/E/G ratio of 3.32 and a beta of 0.76. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $180.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a fifty day moving average price of $166.98 and a 200-day moving average price of $153.16.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. During the same quarter last year, the company posted $5.12 earnings per share. Equities research analysts anticipate that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Dividend Announcement

The business 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 $1.35 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.00%. M&T Bank’s dividend payout ratio (DPR) is presently 36.51%.

Insider Activity at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now directly owns 16,429 shares in the company, valued at $2,834,002.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now owns 20,414 shares in the company, valued at $502,184.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the sale, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,699 shares of company stock worth $5,115,349. Insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

MTB has been the topic of a number of recent research reports. DA Davidson increased their target price on M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Wells Fargo & Company lowered shares of M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $170.00 to $165.00 in a research note on Thursday, August 15th. Royal Bank of Canada boosted their target price on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Jefferies Financial Group lifted their price target on M&T Bank from $160.00 to $161.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $175.85.

About M&T Bank

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.