M&T Bank Corporation $MTB Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in M&T Bank Corporation (NYSE:MTB) by 420.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,000 shares of the financial services provider’s stock after buying an additional 10,500 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in M&T Bank were worth $2,829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTB. Bank of New York Mellon Corp bought a new stake in M&T Bank during the second quarter worth $330,978,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of M&T Bank by 2.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,517 shares of the financial services provider’s stock valued at $252,414,000 after purchasing an additional 26,486 shares during the last quarter. Davis Asset Management L.P. bought a new position in shares of M&T Bank in the 2nd quarter valued at $97,584,000. Hsbc Holdings PLC increased its stake in shares of M&T Bank by 18.9% in the 2nd quarter. Hsbc Holdings PLC now owns 396,157 shares of the financial services provider’s stock valued at $94,364,000 after purchasing an additional 62,877 shares during the last quarter. Finally, Amundi raised its holdings in shares of M&T Bank by 7.7% during the 2nd quarter. Amundi now owns 388,916 shares of the financial services provider’s stock worth $92,566,000 after buying an additional 27,795 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Price Performance

MTB stock opened at $224.41 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.54. The firm has a market cap of $32.41 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.27 and a beta of 0.61. The company’s fifty day simple moving average is $225.91 and its 200 day simple moving average is $225.10. M&T Bank Corporation has a 12-month low of $179.75 and a 12-month high of $255.95.

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

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were given a dividend of $1.50 per share. The ex-dividend date was Tuesday, September 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. M&T Bank’s dividend payout ratio is presently 31.32%.

Insider Activity at M&T Bank

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the transaction, the director directly owned 3,649 shares of the company’s stock, valued at approximately $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rene F. Jones sold 19,396 shares of the business’s stock in a transaction that occurred on 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 directly owned 103,831 shares in the company, valued at approximately $24,851,949.85. This trade represents a 15.74% decrease in their ownership of the stock. 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. Insiders have sold 20,028 shares of company stock valued at $4,794,884 in the last ninety days. 0.44% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MTB shares. Evercore set a $230.00 target price on shares of M&T Bank in a report on Thursday, October 1st. DA Davidson reduced their price target on shares of M&T Bank from $262.00 to $258.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of M&T Bank in a report on Tuesday, September 1st. Wolfe Research cut shares of M&T Bank from a “peer perform” rating to an “underperform” rating and set a $198.00 price objective for the company. in a research report on Tuesday, October 27th. Finally, Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $244.89.

About M&T Bank

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, M&T Bank, was founded in 1856 and provides financial products and services to individuals, businesses and institutions.

The company’s offerings include consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, credit cards, treasury management and other banking services. Through its wealth management and institutional businesses, including Wilmington Trust, M&T also provides investment management, fiduciary, trust, estate planning and related corporate services.

M&T Bank serves customers through branch locations and digital banking channels in several states, primarily across the Mid-Atlantic and Northeast, including New York, Pennsylvania, Maryland, New Jersey, Delaware, Virginia, West Virginia and the District of Columbia.