International Assets Investment Management LLC Invests $11.76 Million in M&T Bank Co. (NYSE:MTB)

International Assets Investment Management LLC acquired a new position in M&T Bank Co. (NYSE:MTB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 85,783 shares of the financial services provider’s stock, valued at approximately $11,759,000.

A number of other large investors also recently added to or reduced their stakes in MTB. GSA Capital Partners LLP acquired a new position in M&T Bank in the third quarter valued at about $833,000. Tokio Marine Asset Management Co. Ltd. increased its stake in M&T Bank by 8.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,985 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 305 shares in the last quarter. NBC Securities Inc. bought a new position in shares of M&T Bank during the third quarter worth $299,000. Metis Global Partners LLC grew its holdings in shares of M&T Bank by 15.2% in the 3rd quarter. Metis Global Partners LLC now owns 7,063 shares of the financial services provider’s stock valued at $893,000 after buying an additional 931 shares during the period. Finally, Matrix Asset Advisors Inc. NY increased its position in shares of M&T Bank by 15.7% in the 4th quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock valued at $12,685,000 after buying an additional 12,590 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Trading Up 0.2 %

Shares of NYSE:MTB opened at $146.58 on Monday. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.93. The business has a 50 day moving average of $141.81 and a 200-day moving average of $134.70. The company has a quick ratio of 0.99, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market cap of $24.42 billion, a PE ratio of 9.91, a P/E/G ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the company earned $4.09 earnings per share. As a group, equities research analysts forecast that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given 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 dividend yield of 3.55%. M&T Bank’s payout ratio is presently 35.16%.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,675 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $137.91, for a total transaction of $230,999.25. Following the transaction, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Doris P. Meister sold 1,675 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the completion of the transaction, the executive vice president now owns 8,961 shares of the company’s stock, valued at $1,235,811.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $143.60, for a total transaction of $568,799.60. Following the sale, the executive vice president now owns 5,000 shares in the company, valued at $718,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,119 shares of company stock valued at $6,679,812. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wedbush reissued an “outperform” rating and issued a $170.00 target price on shares of M&T Bank in a research note on Wednesday, April 10th. Jefferies Financial Group cut their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research report on Monday, April 8th. Piper Sandler lowered their target price on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, January 19th. Royal Bank of Canada restated an “outperform” rating and issued a $160.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. Finally, DA Davidson reissued a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $158.48.

M&T Bank Company Profile

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.