M&T Bank Corporation $MTB Stock Holdings Boosted by Ethic Inc.

Ethic Inc. lifted its position in shares of M&T Bank Corporation (NYSE:MTB) by 20.8% in the 2nd quarter, Holdings Channel reports. The fund owned 25,741 shares of the financial services provider’s stock after buying an additional 4,432 shares during the period. Ethic Inc.’s holdings in M&T Bank were worth $4,988,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MTB. Wealth Preservation Advisors LLC bought a new position in shares of M&T Bank during the first quarter worth about $25,000. WPG Advisers LLC bought a new position in shares of M&T Bank during the first quarter worth about $25,000. Golden State Wealth Management LLC bought a new position in shares of M&T Bank during the first quarter worth about $46,000. Family Legacy Financial Solutions LLC bought a new position in shares of M&T Bank during the second quarter worth about $46,000. Finally, Cullen Frost Bankers Inc. grew its position in shares of M&T Bank by 1,109.5% during the second quarter. Cullen Frost Bankers Inc. now owns 254 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 233 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

Insiders Place Their Bets

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $199.79, for a total value of $2,996,850.00. Following the completion of the sale, the director directly owned 17,866 shares of the company’s stock, valued at approximately $3,569,448.14. This represents a 45.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

M&T Bank Price Performance

Shares of NYSE MTB opened at $181.19 on Friday. M&T Bank Corporation has a twelve month low of $150.75 and a twelve month high of $225.70. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $28.31 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 0.87 and a beta of 0.62. The firm has a 50-day moving average of $194.07 and a two-hundred day moving average of $186.73.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. The company had revenue of $1.54 billion during the quarter. As a group, analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. M&T Bank’s dividend payout ratio is currently 36.95%.

Analyst Ratings Changes

MTB has been the subject of several recent research reports. Piper Sandler assumed coverage on shares of M&T Bank in a research report on Monday, October 6th. They set an “overweight” rating and a $225.00 price target for the company. Truist Financial decreased their target price on shares of M&T Bank from $227.00 to $217.00 and set a “buy” rating for the company in a research report on Friday, October 17th. TD Cowen increased their target price on shares of M&T Bank from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Monday. Cantor Fitzgerald assumed coverage on shares of M&T Bank in a research report on Wednesday, September 10th. They issued an “overweight” rating and a $228.00 target price for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of M&T Bank in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.76.

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.