M&T Bank Corporation $MTB Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in M&T Bank Corporation (NYSE:MTB) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,416,224 shares of the financial services provider’s stock after acquiring an additional 49,336 shares during the period. Bank of New York Mellon Corp’s holdings in M&T Bank were worth $285,341,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Triumph Capital Management acquired a new position in shares of M&T Bank in the third quarter worth $32,000. Elyxium Wealth LLC acquired a new position in shares of M&T Bank in the fourth quarter worth $33,000. Ameriflex Group Inc. grew its stake in shares of M&T Bank by 82.4% in the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 84 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of M&T Bank by 61.8% in the third quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 76 shares in the last quarter. Finally, Hoese & Co LLP acquired a new position in shares of M&T Bank in the fourth quarter worth $50,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity at M&T Bank

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

M&T Bank Price Performance

Shares of MTB opened at $221.75 on Friday. M&T Bank Corporation has a 1-year low of $174.76 and a 1-year high of $239.00. The stock has a market cap of $32.47 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.09 and a beta of 0.57. 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 firm has a fifty day moving average price of $213.39 and a 200 day moving average price of $210.80.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.16. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the company earned $3.32 earnings per share. As a group, sell-side analysts anticipate that M&T Bank Corporation will post 18.69 EPS for the current year.

M&T Bank announced that its Board of Directors has approved a share repurchase plan on Tuesday, March 31st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 16.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, June 1st. M&T Bank’s dividend payout ratio is presently 33.59%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Cantor Fitzgerald dropped their price target on shares of M&T Bank from $255.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. UBS Group set a $235.00 price target on shares of M&T Bank in a research note on Thursday, April 16th. The Goldman Sachs Group boosted their price target on shares of M&T Bank from $231.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, April 6th. Piper Sandler boosted their target price on shares of M&T Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Finally, Jefferies Financial Group boosted their target price on shares of M&T Bank from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $235.32.

M&T Bank Company Profile

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.