M&T Bank Corporation (NYSE:MTB) Shares Purchased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC raised its stake in shares of M&T Bank Corporation (NYSE:MTB) by 390.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 349,506 shares of the financial services provider’s stock after buying an additional 278,246 shares during the period. Brandywine Global Investment Management LLC’s holdings in M&T Bank were worth $62,474,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Invesco Ltd. increased its stake in M&T Bank by 15.2% during the 1st quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider’s stock valued at $635,039,000 after buying an additional 468,758 shares during the period. Northern Trust Corp increased its stake in M&T Bank by 14.7% during the 4th quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider’s stock valued at $316,483,000 after buying an additional 215,100 shares during the period. Dimensional Fund Advisors LP increased its stake in M&T Bank by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,611,137 shares of the financial services provider’s stock valued at $287,932,000 after buying an additional 12,580 shares during the period. First Trust Advisors LP grew its stake in shares of M&T Bank by 2.1% in the 4th quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider’s stock worth $301,892,000 after purchasing an additional 33,017 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of M&T Bank by 22.3% in the 4th quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider’s stock worth $294,662,000 after purchasing an additional 286,049 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

NYSE MTB opened at $194.06 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $30.33 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.95 and a beta of 0.63. The company has a 50 day moving average price of $191.61 and a two-hundred day moving average price of $183.93. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.04 by $0.24. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same period in the previous year, the company earned $3.73 earnings per share. As a group, equities analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were paid a $1.35 dividend. The ex-dividend date was Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.8%. M&T Bank’s payout ratio is 34.97%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Richard H. Jr. Ledgett sold 1,277 shares of M&T Bank stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $197.48, for a total value of $252,181.96. Following the completion of the sale, the director directly owned 4,881 shares in the company, valued at $963,899.88. The trade was a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the sale, the director owned 23,070 shares of the company’s stock, valued at $4,233,806.40. This trade represents a 22.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,438 shares of company stock worth $1,967,346 over the last ninety days. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MTB. Morgan Stanley lifted their price objective on shares of M&T Bank from $206.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of M&T Bank in a research note on Monday, May 19th. Citigroup lifted their price objective on shares of M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Cowen began coverage on shares of M&T Bank in a research report on Wednesday, May 14th. They issued a “buy” rating on the stock. Finally, DA Davidson lifted their target price on shares of M&T Bank from $189.00 to $207.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $212.88.

M&T Bank Profile

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.