M&T Bank Co. (NYSE:MTB) Stock Position Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in M&T Bank Co. (NYSE:MTBFree Report) by 1.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,292 shares of the financial services provider’s stock after selling 143 shares during the period. Allspring Global Investments Holdings LLC’s holdings in M&T Bank were worth $1,351,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of M&T Bank during the third quarter worth $833,000. Stevens Capital Management LP acquired a new stake in shares of M&T Bank during the fourth quarter worth $320,000. Matrix Asset Advisors Inc. NY raised its position in shares of M&T Bank by 15.7% during the fourth quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock worth $12,685,000 after purchasing an additional 12,590 shares during the period. Smead Capital Management Inc. acquired a new stake in shares of M&T Bank during the fourth quarter worth $59,418,000. Finally, Rafferty Asset Management LLC raised its position in shares of M&T Bank by 72.1% during the fourth quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock worth $32,890,000 after purchasing an additional 100,526 shares during the period. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

MTB opened at $146.49 on Friday. The company has a market cap of $24.44 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 2.93 and a beta of 0.77. The stock has a 50-day moving average of $148.58 and a 200-day moving average of $142.28. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $156.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00.

M&T Bank (NYSE:MTBGet Free Report) last released its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same quarter last year, the company posted $4.09 EPS. As a group, equities research analysts forecast that M&T Bank Co. will post 13.99 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were paid a dividend of $1.35 per share. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, June 3rd. This represents a $5.40 annualized dividend and a yield of 3.69%. M&T Bank’s dividend payout ratio is presently 36.51%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $160.00 price target on shares of M&T Bank in a research report on Tuesday, April 16th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $170.00 price target on shares of M&T Bank in a research report on Thursday, June 27th. Piper Sandler reissued an “overweight” rating and set a $164.00 price target on shares of M&T Bank in a research report on Friday, June 21st. Wedbush reissued an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research report on Wednesday, April 10th. Finally, Evercore ISI upped their price target on M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $161.58.

Read Our Latest Analysis on MTB

Insider Activity at M&T Bank

In related news, EVP Doris P. Meister sold 1,638 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now owns 3,362 shares in the company, valued at approximately $464,662.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 16,179 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $148.01, for a total value of $2,394,653.79. Following the completion of the transaction, the director now owns 6,348 shares of the company’s stock, valued at approximately $939,567.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Doris P. Meister sold 1,638 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total value of $226,387.98. Following the completion of the transaction, the executive vice president now directly owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The disclosure for this sale can be found here. Insiders sold a total of 97,553 shares of company stock worth $14,724,147 in the last 90 days. 0.82% of the stock is owned by company insiders.

M&T Bank Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding MTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for M&T Bank Co. (NYSE:MTBFree Report).

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.