Barrow Hanley Mewhinney & Strauss LLC Grows Stock Holdings in M&T Bank Co. (NYSE:MTB)

Barrow Hanley Mewhinney & Strauss LLC increased its stake in M&T Bank Co. (NYSE:MTB) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,398,199 shares of the financial services provider’s stock after buying an additional 43,795 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 0.84% of M&T Bank worth $211,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTB. Los Angeles Capital Management LLC increased its holdings in shares of M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after acquiring an additional 319,051 shares in the last quarter. Bank of Nova Scotia increased its stake in M&T Bank by 1,155.9% during the 4th quarter. Bank of Nova Scotia now owns 205,392 shares of the financial services provider’s stock valued at $28,154,000 after purchasing an additional 189,038 shares in the last quarter. Vest Financial LLC bought a new stake in M&T Bank during the 1st quarter valued at about $18,147,000. Rafferty Asset Management LLC lifted its stake in shares of M&T Bank by 72.1% in the fourth quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock worth $32,890,000 after buying an additional 100,526 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of M&T Bank by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after buying an additional 93,113 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $179.56 on Friday. The stock 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. 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 fifty day moving average is $167.47 and its 200 day moving average is $153.51. M&T Bank Co. has a one year low of $108.53 and a one year high of $180.25.

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 for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the firm earned $5.12 EPS. Sell-side analysts anticipate 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 paid 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 presently 36.51%.

Insider Activity

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the 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 completion of the sale, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 stock was sold at an average price of $172.23, for a total value of $172,230.00. Following the transaction, the director now directly owns 31,796 shares of the company’s stock, valued at approximately $5,476,225.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the transaction, the insider now owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The disclosure for this sale can be found here. Insiders have sold 32,699 shares of company stock worth $5,115,349 in the last three months. Company insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada increased their price objective on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Evercore ISI boosted their target price on M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Wells Fargo & Company downgraded shares of M&T Bank from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $170.00 to $165.00 in a report on Thursday, August 15th. Finally, Piper Sandler boosted their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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.