MBB Public Markets I LLC Buys 4,323 Shares of M&T Bank Co. (NYSE:MTB)

MBB Public Markets I LLC raised its stake in M&T Bank Co. (NYSE:MTB) by 63.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,129 shares of the financial services provider’s stock after buying an additional 4,323 shares during the period. MBB Public Markets I LLC’s holdings in M&T Bank were worth $1,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Daymark Wealth Partners LLC lifted its position in M&T Bank by 82.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 27,698 shares of the financial services provider’s stock worth $4,192,000 after buying an additional 12,538 shares during the last quarter. APG Asset Management N.V. raised its stake in shares of M&T Bank by 194.8% during the second quarter. APG Asset Management N.V. now owns 18,917 shares of the financial services provider’s stock worth $2,672,000 after acquiring an additional 12,500 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of M&T Bank by 72.3% in the 2nd quarter. AQR Capital Management LLC now owns 128,152 shares of the financial services provider’s stock worth $19,178,000 after acquiring an additional 53,795 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in shares of M&T Bank by 27.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,007 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 217 shares in the last quarter. Finally, Point72 Europe London LLP bought a new position in shares of M&T Bank during the 2nd quarter valued at $9,233,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In related news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the transaction, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Kirk W. Walters sold 2,471 shares of the company’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 value of $60,786.60. Following the transaction, the director now directly owns 20,414 shares of the company’s stock, valued at approximately $502,184.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,699 shares of company stock valued at $5,115,349. Insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

Shares of M&T Bank stock opened at $175.42 on Monday. The business has a fifty day simple moving average of $168.61 and a two-hundred day simple moving average of $154.72. The firm has a market capitalization of $29.27 billion, a P/E ratio of 11.86, a P/E/G ratio of 3.55 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $180.63.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the prior year, the company earned $5.12 earnings per share. On average, equities analysts forecast that M&T Bank Co. will post 14.23 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.08%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.51%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MTB shares. Evercore ISI raised their price objective on M&T Bank from $157.00 to $168.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Citigroup boosted their price objective on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada raised their target price on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Piper Sandler upped their price target on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, M&T Bank currently has an average rating of “Hold” and a consensus price target of $181.33.

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.