Amundi Pioneer Asset Management Inc. raised its holdings in M&T Bank Co. (NYSE:MTB) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 364,845 shares of the financial services provider’s stock after purchasing an additional 33,596 shares during the quarter. Amundi Pioneer Asset Management Inc. owned approximately 0.27% of M&T Bank worth $57,287,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. First Hawaiian Bank raised its position in M&T Bank by 111.7% in the 1st quarter. First Hawaiian Bank now owns 4,265 shares of the financial services provider’s stock valued at $669,000 after purchasing an additional 2,250 shares during the last quarter. Domani Wealth LLC acquired a new stake in shares of M&T Bank in the 1st quarter valued at $217,000. Dupont Capital Management Corp increased its stake in shares of M&T Bank by 130.2% in the 1st quarter. Dupont Capital Management Corp now owns 4,080 shares of the financial services provider’s stock valued at $641,000 after buying an additional 2,308 shares during the period. National Asset Management Inc. increased its stake in shares of M&T Bank by 21.9% in the 1st quarter. National Asset Management Inc. now owns 2,503 shares of the financial services provider’s stock valued at $394,000 after buying an additional 450 shares during the period. Finally, Wakefield Asset Management LLLP acquired a new stake in shares of M&T Bank in the 1st quarter valued at $3,301,000. Hedge funds and other institutional investors own 81.55% of the company’s stock.
Shares of M&T Bank stock opened at $168.72 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59. M&T Bank Co. has a 12 month low of $133.78 and a 12 month high of $180.77. The business’s fifty day moving average is $165.29. The firm has a market capitalization of $22.61 billion, a PE ratio of 13.12, a PEG ratio of 1.50 and a beta of 1.07.
M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.05. M&T Bank had a return on equity of 14.46% and a net margin of 30.84%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the firm earned $2.23 earnings per share. As a group, research analysts predict that M&T Bank Co. will post 14.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, May 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.37%. M&T Bank’s dividend payout ratio (DPR) is presently 31.10%.
In related news, insider Doris P. Meister sold 460 shares of M&T Bank stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $160.29, for a total transaction of $73,733.40. Following the completion of the sale, the insider now directly owns 1,553 shares of the company’s stock, valued at $248,930.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Darren J. King sold 1,841 shares of M&T Bank stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $162.95, for a total value of $299,990.95. Following the sale, the chief financial officer now directly owns 46,263 shares of the company’s stock, valued at $7,538,555.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,521 shares of company stock valued at $1,594,509. 0.54% of the stock is owned by insiders.
MTB has been the subject of several research reports. Barclays reissued a “buy” rating and issued a $217.00 target price on shares of M&T Bank in a research note on Wednesday, April 17th. ValuEngine raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Monday, May 20th. UBS Group set a $169.00 target price on M&T Bank and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Zacks Investment Research cut M&T Bank from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Finally, Citigroup lifted their target price on M&T Bank from $162.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $179.25.
M&T Bank Company Profile
M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.
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