M&T Bank Co. (NYSE:MTB) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. increased its stake in shares of M&T Bank Co. (NYSE:MTB) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,114 shares of the financial services provider’s stock after purchasing an additional 2,506 shares during the quarter. Royal London Asset Management Ltd.’s holdings in M&T Bank were worth $10,007,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. General Partner Inc. purchased a new position in shares of M&T Bank in the 1st quarter valued at about $27,000. Fidelis Capital Partners LLC purchased a new position in M&T Bank in the first quarter worth approximately $30,000. Oakworth Capital Inc. purchased a new position in M&T Bank in the second quarter worth approximately $35,000. Principal Securities Inc. purchased a new stake in shares of M&T Bank in the 4th quarter valued at approximately $34,000. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in shares of M&T Bank by 677.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 412 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Trading Down 0.1 %

NYSE MTB opened at $165.68 on Friday. The firm’s fifty day moving average is $164.62 and its two-hundred day moving average is $151.91. M&T Bank Co. has a one year low of $108.53 and a one year high of $176.44. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $27.64 billion, a PE ratio of 11.20, a P/E/G ratio of 3.34 and a beta of 0.76.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the firm posted $5.12 EPS. Analysts expect that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 3.26%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s dividend payout ratio is presently 36.51%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Evercore ISI boosted their target price on shares of M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Royal Bank of Canada increased their price objective on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Morgan Stanley raised their target price on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Piper Sandler upped their price target on M&T Bank from $164.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $175.85.

Insider Activity at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total transaction of $86,250.00. Following the completion of the transaction, the insider now owns 16,429 shares in the company, valued at approximately $2,834,002.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Vice Chairman Gary N. Geisel sold 500 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the completion of the sale, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Kevin J. Pearson sold 6,095 shares of M&T Bank stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.28, for a total transaction of $989,096.60. Following the sale, the insider now owns 47,944 shares of the company’s stock, valued at $7,780,352.32. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock worth $5,115,349 in the last three months. Insiders own 0.82% of the company’s stock.

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.