Corient Private Wealth LP Raises Position in M&T Bank Corporation $MTB

Corient Private Wealth LP raised its position in shares of M&T Bank Corporation (NYSE:MTB) by 9.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 66,705 shares of the financial services provider’s stock after acquiring an additional 5,519 shares during the period. Corient Private Wealth LP’s holdings in M&T Bank were worth $15,876,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of M&T Bank in the 2nd quarter worth approximately $330,978,000. Davis Asset Management L.P. purchased a new stake in M&T Bank in the second quarter worth $97,584,000. Danske Bank A S purchased a new stake in M&T Bank in the third quarter worth $29,612,000. Russell Investments Group Ltd. grew its stake in M&T Bank by 35.4% in the fourth quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider’s stock worth $79,954,000 after purchasing an additional 103,692 shares during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new position in M&T Bank in the fourth quarter worth $17,697,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Down 0.3%

M&T Bank stock opened at $237.86 on Friday. The firm has a market cap of $34.35 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.10 and a beta of 0.57. The stock has a fifty day simple moving average of $244.59 and a two-hundred day simple moving average of $225.84. M&T Bank Corporation has a 12 month low of $174.76 and a 12 month high of $255.95. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.53.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.69. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate 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 in the prior year, the company posted $4.28 earnings per share. Equities analysts predict that M&T Bank Corporation will post 19.43 EPS for the current fiscal year.

M&T Bank Dividend Announcement

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

Insiders Place Their Bets

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Barclays raised their price objective on M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Royal Bank Of Canada increased their price target on shares of M&T Bank from $230.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Truist Financial lifted their price target on shares of M&T Bank from $230.00 to $268.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Morgan Stanley raised their target price on shares of M&T Bank from $245.00 to $253.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus price target of $253.43.

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.