V Square Quantitative Management LLC Buys 364 Shares of M&T Bank Corporation $MTB

V Square Quantitative Management LLC increased its stake in shares of M&T Bank Corporation (NYSE:MTB) by 18.3% in the second quarter, Holdings Channel.com reports. The fund owned 2,354 shares of the financial services provider’s stock after purchasing an additional 364 shares during the period. V Square Quantitative Management LLC’s holdings in M&T Bank were worth $457,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP lifted its position in M&T Bank by 33.1% during the first quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider’s stock valued at $1,768,564,000 after purchasing an additional 2,460,315 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of M&T Bank by 15.2% in the 1st quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider’s stock worth $635,039,000 after acquiring an additional 468,758 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of M&T Bank by 2.3% in the 1st quarter. Northern Trust Corp now owns 1,721,410 shares of the financial services provider’s stock worth $307,702,000 after acquiring an additional 38,081 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of M&T Bank by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,611,137 shares of the financial services provider’s stock worth $287,932,000 after acquiring an additional 12,580 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of M&T Bank by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,442,381 shares of the financial services provider’s stock worth $257,826,000 after acquiring an additional 30,643 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Down 0.3%

NYSE MTB opened at $197.72 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $30.90 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 0.97 and a beta of 0.67. The company’s 50-day simple moving average is $195.53 and its two-hundred day simple moving average is $185.50. M&T Bank Corporation has a one year low of $150.75 and a one year high of $225.70.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.04 by $0.24. The business had revenue of $2.40 billion for 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 posted $3.73 EPS. Equities analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.50 per share. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $6.00 dividend on an annualized basis and a yield of 3.0%. M&T Bank’s payout ratio is 38.86%.

Insider Buying and Selling at M&T Bank

In other news, Director Richard H. Jr. Ledgett sold 1,277 shares of M&T Bank stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $197.48, for a total value of $252,181.96. Following the transaction, the director owned 4,881 shares of the company’s stock, valued at $963,899.88. The trade was a 20.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter D’arcy sold 2,461 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total transaction of $485,579.91. Following the completion of the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $1,838,731.89. The trade was a 20.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,738 shares of company stock valued at $3,734,612. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of M&T Bank from $175.00 to $185.00 and gave the stock an “underweight” rating in a report on Thursday, July 17th. Evercore ISI raised their target price on shares of M&T Bank from $222.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday. Cantor Fitzgerald assumed coverage on shares of M&T Bank in a research note on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 price target on the stock. Citigroup raised their price target on shares of M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Finally, Morgan Stanley raised their price target on shares of M&T Bank from $206.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Thirteen 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.53.

M&T Bank 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.