Hsbc Holdings PLC Acquires 11,687 Shares of M&T Bank Corporation $MTB

Hsbc Holdings PLC lifted its holdings in M&T Bank Corporation (NYSE:MTB) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 465,441 shares of the financial services provider’s stock after purchasing an additional 11,687 shares during the quarter. Hsbc Holdings PLC’s holdings in M&T Bank were worth $83,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Exchange Traded Concepts LLC increased its holdings in M&T Bank by 53.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider’s stock worth $94,000 after buying an additional 184 shares in the last quarter. Private Trust Co. NA boosted its holdings in shares of M&T Bank by 16.5% during the 1st quarter. Private Trust Co. NA now owns 644 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 91 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of M&T Bank during the 1st quarter valued at about $225,000. Kingswood Wealth Advisors LLC grew its stake in shares of M&T Bank by 4.4% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,076 shares of the financial services provider’s stock worth $370,000 after acquiring an additional 88 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in shares of M&T Bank during the first quarter valued at approximately $46,000. 84.68% of the stock is owned by institutional investors.

Insider Buying and Selling

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the sale, the director owned 23,070 shares in the company, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter D’arcy sold 2,461 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the transaction, the executive vice president directly owned 9,319 shares in the company, valued at $1,838,731.89. This represents a 20.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,438 shares of company stock valued at $1,967,346. 0.53% of the stock is owned by corporate insiders.

M&T Bank Trading Up 1.5%

Shares of MTB stock opened at $193.2560 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $30.20 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.93 and a beta of 0.63. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70. The firm has a fifty day moving average price of $192.13 and a 200-day moving average price of $183.66.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.24. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%.During the same quarter in the previous year, the company posted $3.73 earnings per share. As a group, equities analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be paid a dividend of $1.50 per share. This is a boost from M&T Bank’s previous quarterly dividend of $1.35. The ex-dividend date is Tuesday, September 2nd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.1%. M&T Bank’s dividend payout ratio is presently 34.97%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Citigroup raised their target price on shares of M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $200.00 price target on shares of M&T Bank in a report on Monday, May 19th. Morgan Stanley raised their price target on M&T Bank from $206.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. DA Davidson upped their price objective on M&T Bank from $189.00 to $207.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.88.

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.