International Assets Investment Management LLC Invests $93,000 in M&T Bank Co. (NYSE:MTB)

International Assets Investment Management LLC bought a new stake in M&T Bank Co. (NYSE:MTB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 616 shares of the financial services provider’s stock, valued at approximately $93,000.

A number of other institutional investors also recently added to or reduced their stakes in MTB. Ontario Teachers Pension Plan Board boosted its position in shares of M&T Bank by 43.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 12,423 shares of the financial services provider’s stock worth $1,807,000 after acquiring an additional 3,739 shares in the last quarter. Leuthold Group LLC acquired a new position in M&T Bank in the first quarter valued at approximately $3,125,000. Rafferty Asset Management LLC boosted its holdings in M&T Bank by 72.1% in the fourth quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock valued at $32,890,000 after purchasing an additional 100,526 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in M&T Bank by 7.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock valued at $72,357,000 after purchasing an additional 35,692 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in M&T Bank by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 331,868 shares of the financial services provider’s stock worth $48,267,000 after purchasing an additional 18,566 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Up 0.3 %

Shares of M&T Bank stock opened at $171.32 on Wednesday. The firm has a market cap of $28.59 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 3.45 and a beta of 0.77. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $176.44. The company’s 50-day simple moving average is $162.11 and its 200-day simple moving average is $150.65. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the previous year, the firm posted $5.12 EPS. As a group, equities research analysts anticipate that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.15%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s payout ratio is 36.51%.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 2,471 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total value of $60,786.60. Following the completion of the transaction, the director now owns 20,414 shares in the company, valued at approximately $502,184.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kirk W. Walters sold 2,471 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.60, for a total transaction of $60,786.60. Following the sale, the director now owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kirk W. Walters sold 7,464 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the transaction, the director now directly owns 15,045 shares of the company’s stock, valued at $2,617,378.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,699 shares of company stock valued at $3,395,049. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Royal Bank of Canada increased their target price on shares of M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. DA Davidson lifted their target price on M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Wells Fargo & Company cut M&T Bank from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $170.00 to $165.00 in a research report on Thursday, August 15th. Jefferies Financial Group lifted their price target on M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, Piper Sandler increased their price objective on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, M&T Bank has an average rating of “Hold” and an average target price of $175.85.

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.