M&T Bank Corporation $MTB Shares Purchased by LSV Asset Management

LSV Asset Management lifted its stake in M&T Bank Corporation (NYSE:MTB) by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 391,900 shares of the financial services provider’s stock after acquiring an additional 49,500 shares during the period. LSV Asset Management’s holdings in M&T Bank were worth $78,960,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Bank of Jackson Hole Trust lifted its stake in shares of M&T Bank by 342.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 120 shares during the period. Triumph Capital Management acquired a new stake in shares of M&T Bank in the 3rd quarter worth approximately $32,000. Elyxium Wealth LLC acquired a new stake in shares of M&T Bank in the 4th quarter worth approximately $33,000. Ameriflex Group Inc. lifted its stake in shares of M&T Bank by 82.4% in the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 84 shares during the period. Finally, Westside Investment Management Inc. lifted its stake in shares of M&T Bank by 61.8% in the 3rd quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 76 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total value of $672,232.50. Following the completion of the sale, the executive vice president directly owned 6,753 shares of the company’s stock, valued at $1,462,024.50. This represents a 31.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael A. Wisler sold 8,237 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $223.48, for a total transaction of $1,840,804.76. Following the completion of the transaction, the executive vice president owned 4,643 shares of the company’s stock, valued at approximately $1,037,617.64. This represents a 63.95% decrease in their position. The SEC filing for this sale provides additional information. 0.44% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MTB shares. UBS Group set a $235.00 target price on shares of M&T Bank in a research note on Thursday, April 16th. Morgan Stanley cut their target price on shares of M&T Bank from $271.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Piper Sandler increased their target price on shares of M&T Bank from $235.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $225.00 target price on shares of M&T Bank in a research note on Thursday. Finally, Argus increased their target price on shares of M&T Bank from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $235.32.

M&T Bank Stock Performance

MTB stock opened at $213.39 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $210.37 and a two-hundred day moving average of $208.72. The company has a market capitalization of $31.25 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.08 and a beta of 0.59. M&T Bank Corporation has a 12 month low of $174.76 and a 12 month high of $239.00.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.16. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.43 billion. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. During the same period in the prior year, the firm earned $3.32 EPS. As a group, equities analysts anticipate that M&T Bank Corporation will post 18.69 EPS for the current fiscal year.

M&T Bank declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 31st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 16.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.8%. M&T Bank’s dividend payout ratio is 33.59%.

M&T Bank Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.