Huntington National Bank Increases Stock Holdings in M&T Bank Corporation $MTB

Huntington National Bank boosted its position in M&T Bank Corporation (NYSE:MTB) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 364,865 shares of the financial services provider’s stock after purchasing an additional 3,215 shares during the quarter. Huntington National Bank owned about 0.24% of M&T Bank worth $73,513,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTB. Bank of Jackson Hole Trust boosted its holdings in M&T Bank by 342.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 120 shares during the period. Triumph Capital Management purchased a new position in shares of M&T Bank in the 3rd quarter valued at about $32,000. Elyxium Wealth LLC acquired a new stake in shares of M&T Bank during the 4th quarter worth about $33,000. Ameriflex Group Inc. raised its position in shares of M&T Bank by 82.4% during the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 84 shares in the last quarter. Finally, Westside Investment Management Inc. raised its position in shares of M&T Bank by 61.8% during the 3rd quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 76 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on MTB. Piper Sandler lifted their price target on M&T Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. The Goldman Sachs Group lifted their price target on M&T Bank from $231.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, April 6th. Wall Street Zen downgraded M&T Bank from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. JPMorgan Chase & Co. decreased their target price on M&T Bank from $231.50 to $227.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Finally, Jefferies Financial Group boosted their price target on M&T Bank from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $235.32.

M&T Bank Trading Down 0.1%

Shares of MTB opened at $214.95 on Thursday. The company has a market capitalization of $31.48 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.09 and a beta of 0.59. M&T Bank Corporation has a one year low of $174.76 and a one year high of $239.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50-day moving average price of $211.39 and a 200 day moving average price of $209.58.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.16. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.43 billion. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.During the same quarter last year, the business posted $3.32 EPS. Sell-side analysts forecast that M&T Bank Corporation will post 18.69 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, June 1st. M&T Bank’s dividend payout ratio (DPR) is presently 33.59%.

M&T Bank announced that its Board of Directors has approved a stock buyback program on Tuesday, March 31st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 16.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $672,232.50. Following the completion of the transaction, the executive vice president directly owned 6,753 shares of the company’s stock, valued at approximately $1,462,024.50. This trade represents a 31.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.44% of the company’s stock.

M&T Bank Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.