BI Asset Management Fondsmaeglerselskab A S Cuts Stock Position in M&T Bank Corporation $MTB

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 18.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,655 shares of the financial services provider’s stock after selling 3,270 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in M&T Bank were worth $2,953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. LSV Asset Management increased its stake in M&T Bank by 19.9% during the third quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock worth $67,665,000 after purchasing an additional 56,750 shares during the period. Plato Investment Management Ltd increased its stake in M&T Bank by 54.3% during the third quarter. Plato Investment Management Ltd now owns 8,251 shares of the financial services provider’s stock worth $1,618,000 after purchasing an additional 2,905 shares during the period. Fisher Asset Management LLC increased its stake in M&T Bank by 64.0% during the third quarter. Fisher Asset Management LLC now owns 36,215 shares of the financial services provider’s stock worth $7,157,000 after purchasing an additional 14,135 shares during the period. Delphi Management Inc. MA purchased a new stake in M&T Bank during the fourth quarter worth about $1,524,000. Finally, Entropy Technologies LP purchased a new stake in M&T Bank during the third quarter worth about $4,571,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

Shares of MTB opened at $222.80 on Tuesday. The stock has a 50 day moving average price of $214.09 and a 200 day moving average price of $211.38. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $32.63 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.13 and a beta of 0.58. M&T Bank Corporation has a 52-week low of $174.76 and a 52-week high of $239.00.

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

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 yield of 2.7%. The ex-dividend date of this dividend is Monday, June 1st. M&T Bank’s dividend payout ratio is 33.59%.

M&T Bank declared that its Board of Directors has initiated a share buyback 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 leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $225.00 price target on shares of M&T Bank in a research note on Thursday, May 21st. Wall Street Zen lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. JPMorgan Chase & Co. cut their target price on shares of M&T Bank from $231.50 to $227.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Cantor Fitzgerald cut their target price on shares of M&T Bank from $255.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of M&T Bank in a research note on Thursday. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $235.32.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 3,105 shares of the company’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 completion of the transaction, the executive vice president directly owned 6,753 shares of the company’s stock, valued at $1,462,024.50. This represents a 31.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.44% of the stock is owned by company insiders.

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.