Fisher Asset Management LLC Increases Stock Position in M&T Bank Corporation $MTB

Fisher Asset Management LLC lifted its position in shares of M&T Bank Corporation (NYSE:MTB) by 64.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,215 shares of the financial services provider’s stock after buying an additional 14,135 shares during the period. Fisher Asset Management LLC’s holdings in M&T Bank were worth $7,157,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTB. Golden State Wealth Management LLC increased its stake in M&T Bank by 2,214.3% during the second quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 155 shares during the last quarter. Bank of Jackson Hole Trust grew its holdings in shares of M&T Bank by 342.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in M&T Bank during the 2nd quarter worth approximately $36,000. Westside Investment Management Inc. raised its holdings in M&T Bank by 61.8% in the third quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock valued at $39,000 after buying an additional 76 shares during the period. Finally, Root Financial Partners LLC acquired a new position in M&T Bank during the third quarter valued at approximately $61,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Robert W. Baird increased their price objective on shares of M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. Wall Street Zen downgraded M&T Bank from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. TD Cowen reissued a “buy” rating on shares of M&T Bank in a research report on Wednesday, January 7th. The Goldman Sachs Group upped their target price on M&T Bank from $230.00 to $231.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Finally, Barclays increased their target price on M&T Bank from $220.00 to $236.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average target price of $232.34.

M&T Bank Stock Down 1.5%

Shares of M&T Bank stock opened at $215.95 on Friday. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $239.00. The company has a market capitalization of $32.18 billion, a PE ratio of 12.67, a P/E/G ratio of 0.96 and a beta of 0.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50-day moving average of $219.10 and a 200-day moving average of $202.16.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.25. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the business posted $3.77 earnings per share. As a group, equities analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, March 2nd. M&T Bank’s payout ratio is 35.19%.

Insider Activity at M&T Bank

In other news, Director John P. Barnes sold 21,193 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the transaction, the director owned 15,142 shares of the company’s stock, valued at approximately $3,571,240.70. This trade represents a 58.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kirk W. Walters sold 909 shares of M&T Bank stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total value of $206,679.33. Following the completion of the transaction, the director owned 5,976 shares of the company’s stock, valued at $1,358,763.12. This trade represents a 13.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 49,092 shares of company stock valued at $11,182,250. Insiders own 0.53% of the company’s stock.

M&T Bank Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.