M&T Bank Co. (NYSE:MTB) Stock Holdings Increased by Caprock Group LLC

Caprock Group LLC lifted its holdings in M&T Bank Co. (NYSE:MTB) by 69.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,683 shares of the financial services provider’s stock after purchasing an additional 3,970 shares during the quarter. Caprock Group LLC’s holdings in M&T Bank were worth $1,466,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Acadian Asset Management LLC bought a new position in M&T Bank in the 2nd quarter valued at about $547,000. Fiducient Advisors LLC bought a new position in shares of M&T Bank in the second quarter valued at approximately $328,000. Umpqua Bank boosted its holdings in shares of M&T Bank by 5.3% in the second quarter. Umpqua Bank now owns 1,460 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 73 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of M&T Bank by 77.0% during the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after acquiring an additional 319,051 shares during the period. Finally, Commonwealth Retirement Investments LLC raised its holdings in M&T Bank by 34.7% during the second quarter. Commonwealth Retirement Investments LLC now owns 13,340 shares of the financial services provider’s stock worth $2,019,000 after purchasing an additional 3,438 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Up 1.5 %

NYSE:MTB opened at $168.95 on Tuesday. The business’s fifty day moving average price is $163.65 and its 200 day moving average price is $151.51. The firm has a market capitalization of $28.19 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 3.34 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $176.44.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter in the prior year, the company earned $5.12 EPS. On average, sell-side analysts forecast that M&T Bank Co. will post 14.24 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. M&T Bank’s dividend payout ratio is currently 36.51%.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the transaction, the director now owns 44,902 shares in the company, valued at $7,724,491.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now directly owns 44,902 shares in the company, valued at approximately $7,724,491.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kirk W. Walters sold 7,464 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the transaction, the director now owns 15,045 shares in the company, valued at approximately $2,617,378.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MTB shares. Wells Fargo & Company cut M&T Bank from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $170.00 to $165.00 in a research report on Thursday, August 15th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Piper Sandler raised their price objective on shares of M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. DA Davidson boosted their target price on shares of M&T Bank from $159.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, Jefferies Financial Group raised their target price on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $175.85.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.