Ibex Wealth Advisors Makes New Investment in M&T Bank Corporation $MTB

Ibex Wealth Advisors acquired a new stake in shares of M&T Bank Corporation (NYSE:MTB) in the first quarter, Holdings Channel reports. The fund acquired 2,871 shares of the financial services provider’s stock, valued at approximately $593,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTB. Canoe Financial LP increased its position in shares of M&T Bank by 50.5% in the fourth quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock worth $131,515,000 after acquiring an additional 219,065 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new stake in shares of M&T Bank during the fourth quarter valued at approximately $42,817,000. Danske Bank A S purchased a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $29,612,000. Russell Investments Group Ltd. lifted its position in shares of M&T Bank by 35.4% in the 4th quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider’s stock valued at $79,954,000 after acquiring an additional 103,692 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich boosted its stake in M&T Bank by 37.1% in the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider’s stock worth $71,462,000 after purchasing an additional 95,025 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 3,105 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $216.50, for a total value of $672,232.50. Following the transaction, the executive vice president directly owned 6,753 shares of the company’s stock, valued at approximately $1,462,024.50. This trade represents a 31.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.44% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the topic of several research analyst reports. Jefferies Financial Group lifted their price objective on shares of M&T Bank from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Wells Fargo & Company increased their target price on M&T Bank from $205.00 to $215.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Robert W. Baird reaffirmed a “neutral” rating and issued a $240.00 target price on shares of M&T Bank in a research report on Monday, July 6th. Finally, The Goldman Sachs Group lifted their price target on M&T Bank from $231.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, April 6th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $240.55.

M&T Bank Trading Up 1.8%

M&T Bank stock opened at $242.24 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $35.48 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.18 and a beta of 0.57. M&T Bank Corporation has a one year low of $174.76 and a one year high of $243.57. The company’s fifty day moving average price is $222.81 and its two-hundred day moving average price is $217.54.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.16. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company earned $3.32 earnings per share. On average, analysts forecast that M&T Bank Corporation will post 18.81 earnings per share for the current fiscal year.

M&T Bank declared that its Board of Directors has approved a stock repurchase plan on Tuesday, March 31st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 16.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 1st were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 1st. M&T Bank’s dividend payout ratio (DPR) is presently 33.59%.

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.