Nordea Investment Management AB Has $2.64 Million Holdings in M&T Bank Co. (NYSE:MTB)

Nordea Investment Management AB grew its position in shares of M&T Bank Co. (NYSE:MTB) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,036 shares of the financial services provider’s stock after buying an additional 927 shares during the quarter. Nordea Investment Management AB’s holdings in M&T Bank were worth $2,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in MTB. FMR LLC lifted its position in shares of M&T Bank by 13.9% in the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock worth $2,199,675,000 after buying an additional 1,508,846 shares during the last quarter. State Street Corp raised its stake in shares of M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after acquiring an additional 527,854 shares in the last quarter. Marshall Wace LLP lifted its holdings in M&T Bank by 232.1% in the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock worth $102,432,000 after purchasing an additional 472,997 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in M&T Bank during the third quarter worth approximately $44,422,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after purchasing an additional 190,837 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Price Performance

Shares of MTB stock opened at $187.82 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s fifty day simple moving average is $203.16 and its 200 day simple moving average is $182.08. M&T Bank Co. has a one year low of $128.31 and a one year high of $225.70. The firm has a market cap of $31.16 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 2.79 and a beta of 0.79.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, October 17th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.60 by $0.48. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. On average, analysts expect that M&T Bank Co. will post 14.63 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Monday, December 2nd. M&T Bank’s payout ratio is 39.97%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MTB shares. DA Davidson boosted their price objective on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Citigroup lowered shares of M&T Bank from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $220.00 to $230.00 in a research report on Monday, November 25th. JPMorgan Chase & Co. restated a “neutral” rating and set a $223.50 price target (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Piper Sandler increased their target price on M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight 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 price target of $216.86.

Insider Activity

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now directly owns 5,141 shares of the company’s stock, valued at $1,134,875.75. This trade represents a 29.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert E. Sadler, Jr. sold 2,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $198.00, for a total value of $396,000.00. Following the completion of the transaction, the director now directly owns 29,796 shares in the company, valued at approximately $5,899,608. This represents a 6.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 84,994 shares of company stock worth $17,211,278. Insiders own 0.82% of the company’s stock.

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.