SG Americas Securities LLC Boosts Holdings in M&T Bank Co. (NYSE:MTB)

SG Americas Securities LLC lifted its position in shares of M&T Bank Co. (NYSE:MTB) by 130.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,703 shares of the financial services provider’s stock after buying an additional 5,492 shares during the period. SG Americas Securities LLC’s holdings in M&T Bank were worth $1,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Wood Tarver Financial Group LLC acquired a new stake in M&T Bank during the fourth quarter worth $29,000. Banque Transatlantique SA purchased a new position in shares of M&T Bank during the 4th quarter worth $38,000. Sierra Ocean LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth about $44,000. Human Investing LLC purchased a new stake in M&T Bank in the 4th quarter valued at about $44,000. Finally, Loomis Sayles & Co. L P acquired a new position in M&T Bank in the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Down 3.3%

NYSE MTB opened at $177.85 on Monday. M&T Bank Co. has a 52 week low of $141.14 and a 52 week high of $225.70. The firm has a 50 day moving average of $174.73 and a two-hundred day moving average of $185.08. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $28.55 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period last year, the firm posted $3.09 earnings per share. As a group, research analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a dividend of $1.35 per share. The ex-dividend date is Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 3.04%. M&T Bank’s dividend payout ratio is currently 36.17%.

Analyst Upgrades and Downgrades

MTB has been the subject of a number of recent analyst reports. Truist Financial dropped their price target on shares of M&T Bank from $225.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Cowen assumed coverage on shares of M&T Bank in a research report on Wednesday, May 14th. They set a “buy” rating for the company. TD Cowen started coverage on M&T Bank in a research report on Thursday, May 15th. They issued a “buy” rating and a $230.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of M&T Bank in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. dropped their price objective on M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, M&T Bank presently has a consensus rating of “Moderate Buy” and an average target price of $212.53.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.