Deutsche Bank AG Grows Stock Holdings in M&T Bank Co. (NYSE:MTB)

Deutsche Bank AG raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 487,030 shares of the financial services provider’s stock after acquiring an additional 97,480 shares during the period. Deutsche Bank AG owned approximately 0.29% of M&T Bank worth $91,567,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTB. Banque Transatlantique SA acquired a new position in shares of M&T Bank in the fourth quarter valued at approximately $38,000. Y.D. More Investments Ltd grew its position in M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after buying an additional 114 shares during the last quarter. Human Investing LLC acquired a new position in M&T Bank in the 4th quarter valued at $44,000. Sierra Ocean LLC acquired a new position in M&T Bank in the 4th quarter valued at $44,000. Finally, Loomis Sayles & Co. L P purchased a new position in M&T Bank during the 4th quarter worth $52,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MTB has been the topic 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 on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada dropped their target price on M&T Bank from $208.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Evercore ISI reduced their price target on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Piper Sandler dropped their price objective on M&T Bank from $220.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Finally, Robert W. Baird cut their price objective on M&T Bank from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $208.24.

M&T Bank Price Performance

Shares of NYSE MTB opened at $177.11 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $170.16 and its 200 day moving average price is $189.56. M&T Bank Co. has a 52 week low of $139.78 and a 52 week high of $225.70. The stock has a market cap of $29.10 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results 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). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the company earned $3.09 EPS. As a group, research analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.17%.

M&T Bank declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

About M&T Bank

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.