Empowered Funds LLC Grows Stake in M&T Bank Corporation $MTB

Empowered Funds LLC raised its holdings in M&T Bank Corporation (NYSE:MTB) by 14.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,840 shares of the financial services provider’s stock after buying an additional 12,599 shares during the quarter. Empowered Funds LLC’s holdings in M&T Bank were worth $23,763,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Woodline Partners LP boosted its holdings in M&T Bank by 40.7% in the first quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock valued at $2,506,000 after acquiring an additional 4,054 shares in the last quarter. Lazard Asset Management LLC raised its holdings in M&T Bank by 24.6% in the 2nd quarter. Lazard Asset Management LLC now owns 2,900 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 572 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of M&T Bank in the 2nd quarter worth about $92,000. Geneos Wealth Management Inc. lifted its position in shares of M&T Bank by 4.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 71 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of M&T Bank by 7.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,956 shares of the financial services provider’s stock valued at $782,000 after purchasing an additional 271 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at M&T Bank

In other news, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the transaction, the director owned 3,649 shares in the company, valued at approximately $879,554.96. This represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of M&T Bank from $251.50 to $265.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald raised their price objective on shares of M&T Bank from $262.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Wells Fargo & Company lifted their price objective on M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. Robert W. Baird increased their target price on M&T Bank from $240.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Barclays raised their target price on M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $253.43.

M&T Bank Stock Down 1.2%

MTB stock opened at $238.52 on Friday. The business has a 50 day moving average of $244.34 and a 200 day moving average of $225.76. The firm has a market cap of $34.45 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.12 and a beta of 0.57. M&T Bank Corporation has a twelve month low of $174.76 and a twelve month high of $255.95. 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 (NYSE:MTB) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.69. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $4.28 EPS. On average, research analysts forecast that M&T Bank Corporation will post 19.43 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $6.00 annualized dividend and a yield of 2.5%. M&T Bank’s payout ratio is 31.68%.

About M&T Bank

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.