SG Americas Securities LLC Increases Stock Holdings in M&T Bank Corporation $MTB

SG Americas Securities LLC boosted its position in shares of M&T Bank Corporation (NYSE:MTB) by 932.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,169 shares of the financial services provider’s stock after acquiring an additional 90,466 shares during the period. SG Americas Securities LLC owned 0.06% of M&T Bank worth $19,432,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in M&T Bank by 33.1% in the 1st 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 period. Nuveen LLC purchased a new stake in shares of M&T Bank in the 1st quarter valued at about $243,451,000. Invesco Ltd. boosted its position in shares of M&T Bank by 15.2% during the 1st quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider’s stock valued at $635,039,000 after acquiring an additional 468,758 shares during the last quarter. Canoe Financial LP grew its holdings in shares of M&T Bank by 24,443.7% during the second quarter. Canoe Financial LP now owns 295,506 shares of the financial services provider’s stock worth $57,325,000 after purchasing an additional 294,302 shares in the last quarter. Finally, Brandywine Global Investment Management LLC increased its position in shares of M&T Bank by 390.5% in the first quarter. Brandywine Global Investment Management LLC now owns 349,506 shares of the financial services provider’s stock worth $62,474,000 after purchasing an additional 278,246 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Up 0.3%

Shares of NYSE:MTB opened at $186.98 on Friday. The stock has a market capitalization of $28.74 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66. The stock’s 50-day moving average price is $189.85 and its 200-day moving average price is $189.55. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. 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 issued its earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.The company had revenue of $1.54 billion during the quarter. On average, equities analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were issued a $1.50 dividend. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 2nd. M&T Bank’s dividend payout ratio (DPR) is 36.95%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of M&T Bank from $222.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Truist Financial dropped their price objective on shares of M&T Bank from $227.00 to $217.00 and set a “buy” rating for the company in a report on Friday, October 17th. Piper Sandler began coverage on shares of M&T Bank in a research report on Monday, October 6th. They issued an “overweight” rating and a $225.00 target price for the company. UBS Group raised their price target on M&T Bank from $207.00 to $208.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Finally, TD Cowen lifted their price target on M&T Bank from $235.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $217.76.

Insider Activity at M&T Bank

In related news, Director John P. Barnes sold 15,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the completion of the sale, the director directly owned 17,866 shares in the company, valued at $3,569,448.14. This represents a 45.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by insiders.

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.