Andra AP fonden Makes New Investment in M&T Bank Corporation $MTB

Key Points

• Andra AP fonden acquired 17,003 shares of M&T Bank worth approximately $4.05 million during the second quarter. Institutional investors collectively own 84.68% of the company.
• M&T Bank reported quarterly EPS of $5.35, exceeding the $4.66 consensus estimate, while revenue reached $2.53 billion. Analysts have a consensus “Hold” rating and an average price target of $255.07.
• The company declared a quarterly dividend of $1.50 per share, equating to $6.00 annually and a 2.7% yield. Insiders sold approximately $4.79 million of stock over the past 90 days.

Andra AP fonden purchased a new position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,003 shares of the financial services provider's stock, valued at approximately $4,047,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MTB. Bogart Wealth LLC increased its stake in shares of M&T Bank by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 84 shares in the last quarter. First Bancorp Inc ME acquired a new position in shares of M&T Bank during the 2nd quarter worth approximately $25,000. FNY Investment Advisers LLC purchased a new position in shares of M&T Bank during the 2nd quarter valued at approximately $51,000. NBH Bank acquired a new stake in M&T Bank in the 2nd quarter valued at $51,000. Finally, Root Financial Partners LLC grew its stake in M&T Bank by 23.2% in the 4th quarter. Root Financial Partners LLC now owns 382 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 72 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Stock Down 1.7%

Shares of MTB opened at $219.55 on Thursday. M&T Bank Corporation has a 52-week low of $174.76 and a 52-week 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. The stock has a fifty day simple moving average of $242.74 and a two-hundred day simple moving average of $226.74. The company has a market capitalization of $31.71 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.27 and a beta of 0.56.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same period last year, the business earned $4.28 earnings per share. As a group, equities analysts forecast that M&T Bank Corporation will post 19.45 EPS for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 1st. M&T Bank's dividend payout ratio (DPR) is currently 31.68%.

Insiders Place Their Bets

In other news, Director Rudina Seseri sold 623 shares of the firm's stock in a transaction 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 sale, the director directly owned 3,649 shares in the company, valued at approximately $879,554.96. This trade represents a 14.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rene F. Jones sold 19,396 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $239.35, for a total value of $4,642,432.60. Following the completion of the transaction, the chief executive officer owned 103,831 shares in the company, valued at approximately $24,851,949.85. The trade was a 15.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,028 shares of company stock valued at $4,794,884 over the last ninety days. Insiders own 0.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MTB shares. JPMorgan Chase & Co. increased their price objective on shares of M&T Bank from $251.50 to $265.50 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Jefferies Financial Group reiterated a "buy" rating and issued a $300.00 price objective on shares of M&T Bank in a report on Wednesday, July 15th. DA Davidson boosted their price objective on M&T Bank from $263.00 to $266.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Wells Fargo & Company raised their target price 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. Finally, Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a research note on Monday, July 20th. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $255.07.

M&T Bank Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.

The company's offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.

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