Fulcrum Asset Management LLP Makes New $2.13 Million Investment in M&T Bank Corporation $MTB

Fulcrum Asset Management LLP bought a new stake in M&T Bank Corporation (NYSE:MTB) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 9,814 shares of the financial services provider’s stock, valued at approximately $2,135,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wedmont Private Capital lifted its position in M&T Bank by 1.0% in the second quarter. Wedmont Private Capital now owns 4,405 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 45 shares during the last quarter. Integrity Alliance LLC. boosted its stake in M&T Bank by 2.0% in the third quarter. Integrity Alliance LLC. now owns 2,449 shares of the financial services provider’s stock valued at $533,000 after acquiring an additional 48 shares in the last quarter. CX Institutional grew its holdings in shares of M&T Bank by 3.4% during the second quarter. CX Institutional now owns 1,650 shares of the financial services provider’s stock worth $393,000 after purchasing an additional 54 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of M&T Bank by 0.4% during the third quarter. Kestra Advisory Services LLC now owns 13,603 shares of the financial services provider’s stock worth $2,960,000 after purchasing an additional 54 shares during the last quarter. Finally, Cidel Asset Management Inc. grew its holdings in shares of M&T Bank by 5.4% during the second quarter. Cidel Asset Management Inc. now owns 1,196 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 61 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Evercore set a $230.00 target price on M&T Bank in a research report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft cut M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price for the company. in a research report on Thursday, July 23rd. Citigroup upped their target price on M&T Bank from $225.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Royal Bank Of Canada dropped their price target on M&T Bank from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. Finally, Truist Financial cut their price target on M&T Bank from $250.00 to $235.00 and set a “hold” rating on the stock in a research report on Tuesday, October 20th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and an average price target of $244.89.

M&T Bank Trading Down 0.9%

Shares of M&T Bank stock opened at $220.62 on Wednesday. M&T Bank Corporation has a 1 year low of $179.75 and a 1 year high of $255.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $31.86 billion, a P/E ratio of 11.51, a PEG ratio of 1.29 and a beta of 0.64. The company’s fifty day moving average is $223.79 and its two-hundred day moving average is $225.33.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Friday, October 16th. The financial services provider reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.93 by $0.15. M&T Bank had a net margin of 22.63% and a return on equity of 11.86%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the previous year, the business posted $4.82 earnings per share. Analysts forecast that M&T Bank Corporation will post 19.48 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. M&T Bank’s dividend payout ratio (DPR) is currently 31.32%.

Insider Transactions at M&T Bank

In related news, Director Rudina Seseri sold 623 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the transaction, the director owned 3,649 shares of the company’s stock, valued at $879,554.96. This trade represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO René Jones sold 19,396 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $239.35, for a total value of $4,642,432.60. Following the completion of the transaction, the chief executive officer owned 103,831 shares in the company, valued at $24,851,949.85. This trade represents a 15.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.44% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Founded in 1856 as Manufacturers and Traders Bank, the company operates primarily through M&T Bank and its wealth-management subsidiary, Wilmington Trust. M&T provides retail and commercial banking services, including checking and savings accounts, loans, mortgages, credit cards, and cash-management services. Through Wilmington Trust and other businesses, it also offers wealth management, trust, investment, and related financial services.