Bank & Trust Co Makes New Investment in M&T Bank Co. (NYSE:MTB)

Bank & Trust Co acquired a new stake in M&T Bank Co. (NYSE:MTB) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 462 shares of the financial services provider’s stock, valued at approximately $70,000.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in M&T Bank in the 4th quarter valued at about $232,322,000. Smead Capital Management Inc. bought a new stake in M&T Bank during the fourth quarter worth approximately $59,418,000. Los Angeles Capital Management LLC bought a new stake in M&T Bank during the fourth quarter worth approximately $34,645,000. Bank of Nova Scotia grew its position in M&T Bank by 1,155.9% in the fourth quarter. Bank of Nova Scotia now owns 205,392 shares of the financial services provider’s stock worth $28,154,000 after buying an additional 189,038 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of M&T Bank by 127.6% in the fourth quarter. BNP Paribas Financial Markets now owns 277,330 shares of the financial services provider’s stock valued at $38,016,000 after buying an additional 155,487 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Up 0.2 %

MTB traded up $0.32 during trading on Tuesday, reaching $160.29. 959,839 shares of the stock traded hands, compared to its average volume of 1,046,213. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 1.00. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $176.44. The stock’s 50-day simple moving average is $154.28 and its two-hundred day simple moving average is $146.55. The stock has a market cap of $26.74 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77.

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

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.37%. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their price objective on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. increased their price target on M&T Bank from $180.00 to $183.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company boosted their price objective on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Finally, Royal Bank of Canada lifted their target price on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, M&T Bank has an average rating of “Hold” and an average target price of $172.92.

Insider Activity at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 43,426 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the completion of the sale, the director now owns 35,480 shares of the company’s stock, valued at $5,481,660. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Christopher E. Kay sold 1,821 shares of M&T Bank stock in a transaction on Friday, May 10th. The shares were sold at an average price of $153.78, for a total value of $280,033.38. Following the transaction, the executive vice president now owns 8,579 shares in the company, valued at approximately $1,319,278.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Barnes sold 43,426 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the transaction, the director now directly owns 35,480 shares of the company’s stock, valued at approximately $5,481,660. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,986 shares of company stock valued at $9,730,154. Insiders own 0.82% of the company’s stock.

M&T Bank Profile

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.