Parkside Financial Bank & Trust Raises Holdings in M&T Bank Co. (NYSE:MTB)

Parkside Financial Bank & Trust increased its position in shares of M&T Bank Co. (NYSE:MTB) by 26.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 584 shares of the financial services provider’s stock after purchasing an additional 121 shares during the quarter. Parkside Financial Bank & Trust’s holdings in M&T Bank were worth $80,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of M&T Bank by 15.5% during the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after purchasing an additional 650,796 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of M&T Bank by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,595,687 shares of the financial services provider’s stock worth $454,675,000 after purchasing an additional 41,790 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in M&T Bank by 29.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock worth $218,308,000 after buying an additional 393,116 shares during the last quarter. Northern Trust Corp boosted its stake in M&T Bank by 3.7% during the third quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock worth $211,404,000 after buying an additional 59,690 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in M&T Bank by 20.2% during the third quarter. Bank of New York Mellon Corp now owns 1,613,660 shares of the financial services provider’s stock worth $204,047,000 after buying an additional 270,819 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Price Performance

MTB stock opened at $146.90 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $24.48 billion, a PE ratio of 9.93, a P/E/G ratio of 1.24 and a beta of 0.80. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.25. The business’s fifty day moving average price is $140.84 and its 200 day moving average price is $133.63.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same quarter in the prior year, the firm posted $4.09 EPS. On average, sell-side analysts anticipate that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a $1.30 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.54%. M&T Bank’s dividend payout ratio is presently 35.16%.

Insider Activity at M&T Bank

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Doris P. Meister sold 1,675 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $137.91, for a total value of $230,999.25. Following the sale, the executive vice president now owns 8,961 shares in the company, valued at approximately $1,235,811.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,119 shares of company stock worth $5,341,012. 0.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on MTB. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company boosted their price objective on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. Piper Sandler lowered their price objective on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, January 19th. UBS Group boosted their price objective on M&T Bank from $139.00 to $154.00 in a research note on Wednesday, January 17th. Finally, JPMorgan Chase & Co. boosted their price objective on M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $158.48.

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.