Canada Post Corp Registered Pension Plan Purchases 2,868 Shares of M&T Bank Corporation $MTB

Canada Post Corp Registered Pension Plan boosted its position in M&T Bank Corporation (NYSE:MTB) by 107.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,533 shares of the financial services provider’s stock after purchasing an additional 2,868 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in M&T Bank were worth $1,097,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MTB. Golden State Wealth Management LLC increased its position in M&T Bank by 2,214.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock valued at $31,000 after buying an additional 155 shares in the last quarter. Bank of Jackson Hole Trust boosted its holdings in shares of M&T Bank by 342.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 120 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in M&T Bank in the 2nd quarter worth approximately $36,000. Westside Investment Management Inc. boosted its stake in shares of M&T Bank by 61.8% in the 3rd quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after buying an additional 76 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its position in M&T Bank by 1,109.5% in the second quarter. Cullen Frost Bankers Inc. now owns 254 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 233 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Evercore downgraded M&T Bank from an “outperform” rating to a “hold” rating and lifted their target price for the company from $210.00 to $225.00 in a research report on Tuesday, January 6th. UBS Group lifted their price objective on shares of M&T Bank from $217.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Wolfe Research cut M&T Bank from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Weiss Ratings restated a “buy (b-)” rating on shares of M&T Bank in a research report on Monday, December 29th. Finally, Barclays lifted their price target on M&T Bank from $220.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and a consensus price target of $225.45.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $238.19 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 0.90. The firm’s 50 day simple moving average is $209.68 and its 200-day simple moving average is $197.49. The firm has a market cap of $36.61 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.04 and a beta of 0.60. M&T Bank Corporation has a one year low of $150.75 and a one year high of $238.54.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same quarter in the prior year, the company earned $3.77 EPS. As a group, equities analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, December 1st. M&T Bank’s dividend payout ratio (DPR) is presently 35.19%.

Insiders Place Their Bets

In related news, Director Kirk W. Walters sold 909 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total transaction of $206,679.33. Following the completion of the sale, the director owned 5,976 shares of the company’s stock, valued at $1,358,763.12. This represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John P. Barnes sold 17,866 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $220.81, for a total value of $3,944,991.46. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 30,912 shares of company stock worth $6,489,862. Insiders own 0.53% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.