NEOS Investment Management LLC Increases Position in M&T Bank Corporation $MTB

NEOS Investment Management LLC increased its holdings in M&T Bank Corporation (NYSE:MTB) by 13.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,616 shares of the financial services provider’s stock after acquiring an additional 2,827 shares during the quarter. NEOS Investment Management LLC’s holdings in M&T Bank were worth $5,859,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MTB. LSV Asset Management raised its position in shares of M&T Bank by 14.5% in the 4th quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock valued at $78,960,000 after purchasing an additional 49,500 shares in the last quarter. Adams Diversified Equity Fund Inc. grew its position in shares of M&T Bank by 22.8% during the first quarter. Adams Diversified Equity Fund Inc. now owns 119,900 shares of the financial services provider’s stock worth $24,786,000 after buying an additional 22,300 shares in the last quarter. Danske Bank A S acquired a new stake in shares of M&T Bank during the second quarter worth approximately $34,683,000. Bank of New York Mellon Corp bought a new stake in shares of M&T Bank in the second quarter worth $330,978,000. Finally, Allstate Corp increased its stake in shares of M&T Bank by 99.4% in the fourth quarter. Allstate Corp now owns 11,242 shares of the financial services provider’s stock worth $2,265,000 after buying an additional 5,604 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB stock opened at $240.05 on Monday. M&T Bank Corporation has a 12-month low of $174.76 and a 12-month high of $255.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $34.67 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.36 and a beta of 0.56. The business has a 50 day simple moving average of $244.88 and a 200 day simple moving average of $225.92.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the business earned $4.28 EPS. On average, equities research analysts anticipate that M&T Bank Corporation will post 19.43 EPS for the current year.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors 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 dividend payout ratio is presently 31.68%.

Insiders Place Their Bets

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the firm’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 of the company’s stock, valued at approximately $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.

Analyst Ratings Changes

A number of research firms have commented on MTB. DA Davidson increased their price objective on shares of M&T Bank from $263.00 to $266.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods raised their price objective on shares of M&T Bank from $242.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, July 16th. Royal Bank Of Canada boosted their target price on shares of M&T Bank from $230.00 to $255.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Jefferies Financial Group restated a “buy” rating and issued a $300.00 target price on shares of M&T Bank in a research note on Wednesday, July 15th. Finally, Truist Financial increased their price target on shares of M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.