M&T Bank Corporation $MTB Shares Acquired by Northern Trust Corp

Northern Trust Corp lifted its stake in shares of M&T Bank Corporation (NYSE:MTB) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,721,410 shares of the financial services provider’s stock after purchasing an additional 38,081 shares during the period. Northern Trust Corp owned about 1.07% of M&T Bank worth $307,702,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MTB. Wood Tarver Financial Group LLC purchased a new stake in M&T Bank during the 4th quarter worth approximately $29,000. Banque Transatlantique SA acquired a new stake in shares of M&T Bank in the fourth quarter worth approximately $38,000. Grove Bank & Trust boosted its stake in shares of M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 114 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of M&T Bank during the first quarter worth approximately $46,000. Finally, Investors Research Corp raised its stake in M&T Bank by 31.1% in the 1st quarter. Investors Research Corp now owns 295 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 70 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the transaction, the director directly owned 23,070 shares in the company, valued at approximately $4,233,806.40. This represents a 22.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the business’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $197.48, for a total transaction of $252,181.96. Following the completion of the sale, the director owned 4,881 shares in the company, valued at approximately $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,438 shares of company stock valued at $1,967,346 in the last quarter. Insiders own 0.53% of the company’s stock.

M&T Bank Price Performance

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 capitalization of $30.20 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 0.93 and a beta of 0.63. The firm’s 50-day moving average is $192.13 and its two-hundred day moving average is $183.66. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.04 by $0.24. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same quarter last year, the firm earned $3.73 EPS. Analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be given a $1.50 dividend. This is an increase from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 34.97%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of M&T Bank from $175.00 to $185.00 and gave the stock an “underweight” rating in a research note on Thursday, July 17th. Cowen assumed coverage on shares of M&T Bank in a research note on Wednesday, May 14th. They issued a “buy” rating on the stock. DA Davidson upped their price objective on shares of M&T Bank from $189.00 to $207.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a report on Thursday, April 24th. Finally, Citigroup boosted their target price on M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $212.88.

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.