6,666 Shares in M&T Bank Corporation $MTB Purchased by AG2R LA Mondiale Gestion D Actifs

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired a new stake in M&T Bank Corporation, purchasing 6,666 shares valued at approximately $1.2 million.
• M&T Bank recently reported earnings of $4.28 EPS, surpassing analysts' expectations and had a quarterly revenue of $2.40 billion.
• The company has declared a quarterly dividend of $1.50 per share, reflecting an increase from the previous dividend of $1.35, with a current dividend yield of 3.0%.

AG2R LA Mondiale Gestion D Actifs bought a new position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,666 shares of the financial services provider's stock, valued at approximately $1,217,000.

Several other institutional investors have also recently made changes to their positions in MTB. Gotham Asset Management LLC increased its stake in shares of M&T Bank by 43.0% during the fourth quarter. Gotham Asset Management LLC now owns 3,403 shares of the financial services provider's stock valued at $640,000 after buying an additional 1,023 shares during the period. Janus Henderson Group PLC increased its stake in shares of M&T Bank by 32.6% during the fourth quarter. Janus Henderson Group PLC now owns 28,223 shares of the financial services provider's stock valued at $5,308,000 after buying an additional 6,936 shares during the period. NorthRock Partners LLC purchased a new position in shares of M&T Bank during the fourth quarter valued at $228,000. Nissay Asset Management Corp Japan ADV increased its stake in shares of M&T Bank by 1.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,386 shares of the financial services provider's stock valued at $3,858,000 after buying an additional 313 shares during the period. Finally, Man Group plc increased its stake in shares of M&T Bank by 8.5% during the fourth quarter. Man Group plc now owns 41,464 shares of the financial services provider's stock valued at $7,796,000 after buying an additional 3,242 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Stock Up 0.8%

Shares of MTB stock traded up $1.60 during trading hours on Friday, reaching $202.03. 3,604,921 shares of the company's stock were exchanged, compared to its average volume of 823,004. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70. The stock has a market cap of $31.57 billion, a PE ratio of 13.08, a PEG ratio of 0.98 and a beta of 0.67. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. The stock's fifty day moving average price is $195.18 and its two-hundred day moving average price is $184.24.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.04 by $0.24. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%.The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the firm earned $3.73 earnings per share. Research analysts predict that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $1.50 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from M&T Bank's previous quarterly dividend of $1.35. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.0%. M&T Bank's payout ratio is presently 38.86%.

Insider Transactions at M&T Bank

In other news, Director John P. Barnes sold 15,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the sale, the director owned 17,866 shares in the company, valued at approximately $3,569,448.14. The trade was a 45.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter D'arcy sold 2,461 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total value of $485,579.91. Following the sale, the executive vice president owned 9,319 shares in the company, valued at $1,838,731.89. The trade was a 20.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,738 shares of company stock worth $3,734,612. Insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MTB shares. Morgan Stanley raised their price target on M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Citigroup lifted their target price on M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Jefferies Financial Group lifted their target price on M&T Bank from $220.00 to $240.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Wells Fargo & Company lifted their target price on M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. Finally, DA Davidson lifted their target price on M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Fourteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $214.31.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.