abrdn plc Has $9.99 Million Holdings in M&T Bank Co. (NYSE:MTB)

abrdn plc boosted its position in M&T Bank Co. (NYSE:MTB) by 78.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,860 shares of the financial services provider’s stock after buying an additional 31,930 shares during the period. abrdn plc’s holdings in M&T Bank were worth $9,988,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. increased its position in shares of M&T Bank by 15.5% during the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after acquiring an additional 650,796 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of M&T Bank by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,595,687 shares of the financial services provider’s stock valued at $454,675,000 after buying an additional 41,790 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in M&T Bank by 29.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock worth $218,308,000 after acquiring an additional 393,116 shares during the period. Northern Trust Corp increased its holdings in M&T Bank by 3.7% during the 3rd quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock worth $211,404,000 after acquiring an additional 59,690 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in M&T Bank by 20.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,613,660 shares of the financial services provider’s stock worth $204,047,000 after acquiring an additional 270,819 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MTB shares. Royal Bank of Canada reissued an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a report on Tuesday, April 16th. JPMorgan Chase & Co. increased their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. DA Davidson reissued a “neutral” rating and set a $159.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Wells Fargo & Company lifted their target price on shares of M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Finally, Evercore ISI lifted their target price on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $158.48.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now directly owns 7,274 shares of the company’s stock, valued at $962,350.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the transaction, the director now directly owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the transaction, the executive vice president now owns 7,274 shares of the company’s stock, valued at $962,350.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,119 shares of company stock valued at $5,341,012. Insiders own 0.82% of the company’s stock.

M&T Bank Stock Down 0.4 %

Shares of M&T Bank stock opened at $146.38 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.94. The company has a 50-day simple moving average of $141.00 and a two-hundred day simple moving average of $133.77. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $148.93. The stock has a market capitalization of $24.39 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm earned $4.09 earnings per share. On average, analysts anticipate that M&T Bank Co. will post 13.92 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 dividend on an annualized basis and a yield of 3.55%. M&T Bank’s dividend payout ratio is currently 35.16%.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.