145,720 Shares in M&T Bank Corporation $MTB Bought by Danske Bank A S

Danske Bank A S acquired a new stake in M&T Bank Corporation (NYSE:MTB) in the second quarter, Holdings Channel reports. The firm acquired 145,720 shares of the financial services provider’s stock, valued at approximately $34,683,000.

Other large investors have also bought and sold shares of the company. Commonwealth Retirement Investments LLC lifted its holdings in M&T Bank by 0.4% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 10,991 shares of the financial services provider’s stock worth $2,214,000 after buying an additional 44 shares during the period. Wedbush Securities Inc. raised its position in shares of M&T Bank by 2.4% during the fourth quarter. Wedbush Securities Inc. now owns 2,223 shares of the financial services provider’s stock worth $448,000 after acquiring an additional 52 shares during the last quarter. CX Institutional raised its position in shares of M&T Bank by 3.4% during the second quarter. CX Institutional now owns 1,650 shares of the financial services provider’s stock worth $393,000 after acquiring an additional 54 shares during the last quarter. Bank of Jackson Hole Trust lifted its stake in shares of M&T Bank by 38.7% in the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 60 shares during the period. Finally, Thoroughbred Financial Services LLC lifted its stake in shares of M&T Bank by 2.1% in the fourth quarter. Thoroughbred Financial Services LLC now owns 3,465 shares of the financial services provider’s stock worth $698,000 after acquiring an additional 70 shares during the period. 84.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Cantor Fitzgerald increased their price objective on shares of M&T Bank from $262.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird boosted their target price on shares of M&T Bank from $240.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Truist Financial increased their price target on M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Finally, Evercore set a $260.00 price objective on M&T Bank in a research report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $253.43.

M&T Bank Trading Down 2.7%

NYSE MTB opened at $244.74 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. M&T Bank Corporation has a 52 week low of $174.76 and a 52 week high of $255.95. The business has a 50 day moving average price of $242.80 and a 200-day moving average price of $225.33. The company has a market cap of $35.35 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 1.17 and a beta of 0.57.

M&T Bank (NYSE:MTB) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.69. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same period last year, the business earned $4.28 EPS. As a group, equities analysts expect that M&T Bank Corporation will post 19.43 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 1st. M&T Bank’s dividend payout ratio (DPR) is currently 31.68%.

M&T Bank Company 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.