M&T Bank Co. (NYSE:MTB) Shares Purchased by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB increased its position in M&T Bank Co. (NYSE:MTB) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,585 shares of the financial services provider’s stock after acquiring an additional 185 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in M&T Bank were worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTB. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of M&T Bank by 100.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 32,686 shares of the financial services provider’s stock valued at $6,145,000 after acquiring an additional 16,380 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in M&T Bank during the fourth quarter valued at $43,101,000. Wood Tarver Financial Group LLC purchased a new stake in M&T Bank in the fourth quarter valued at $29,000. Siemens Fonds Invest GmbH grew its position in M&T Bank by 78.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 3,202 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 1,412 shares during the period. Finally, Ameriflex Group Inc. acquired a new stake in M&T Bank during the 4th quarter worth about $101,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

M&T Bank Price Performance

M&T Bank stock opened at $182.53 on Friday. The company has a fifty day simple moving average of $172.38 and a 200-day simple moving average of $187.91. The firm has a market capitalization of $29.30 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.38 and a beta of 0.58. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 52-week low of $139.78 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the prior year, the company posted $3.09 EPS. On average, equities analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be given a $1.35 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.96%. M&T Bank’s dividend payout ratio (DPR) is presently 36.17%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Cowen assumed coverage on M&T Bank in a research note on Wednesday, May 14th. They issued a “buy” rating on the stock. Truist Financial lowered their price objective on M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. decreased their target price on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Finally, Jefferies Financial Group set a $225.00 price target on shares of M&T Bank and gave the company a “buy” rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $212.53.

About M&T Bank

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.