Nykredit A S Invests $15.76 Million in M&T Bank Corporation $MTB

Nykredit A S acquired a new stake in M&T Bank Corporation (NYSE:MTB) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 66,227 shares of the financial services provider’s stock, valued at approximately $15,763,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LSV Asset Management raised its position in shares of M&T Bank by 14.5% during the fourth quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock worth $78,960,000 after purchasing an additional 49,500 shares during the period. Adams Diversified Equity Fund Inc. increased its stake in M&T Bank by 22.8% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 119,900 shares of the financial services provider’s stock worth $24,786,000 after purchasing an additional 22,300 shares in the last quarter. Danske Bank A S bought a new stake in M&T Bank during the 2nd quarter worth approximately $34,683,000. Bank of New York Mellon Corp acquired a new stake in M&T Bank during the 2nd quarter worth approximately $330,978,000. Finally, Allstate Corp lifted its stake in M&T Bank by 99.4% in the fourth quarter. Allstate Corp now owns 11,242 shares of the financial services provider’s stock valued at $2,265,000 after buying an additional 5,604 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the stock in a transaction on Friday, August 21st. The stock was 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 $879,554.96. This trade represents a 14.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.44% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MTB shares. Morgan Stanley upped their price target on shares of M&T Bank from $245.00 to $253.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Weiss Ratings reissued a “buy (b)” rating on shares of M&T Bank in a research note on Tuesday. Cantor Fitzgerald boosted their price target on M&T Bank from $262.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. JPMorgan Chase & Co. upped their price objective on M&T Bank from $251.50 to $265.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 target price on the stock. in a research report on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $253.43.

M&T Bank Price Performance

NYSE:MTB opened at $240.05 on Friday. The company has a market cap of $34.67 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.36 and a beta of 0.56. M&T Bank Corporation has a 52-week low of $174.76 and a 52-week high of $255.95. The stock’s 50-day simple moving average is $244.88 and its 200 day simple moving average is $225.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.96 and a current ratio of 0.96.

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, beating the consensus estimate of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business posted $4.28 EPS. As a group, sell-side 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 disclosed 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. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 1st. M&T Bank’s dividend payout ratio is currently 31.68%.

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.