ASR Vermogensbeheer N.V. Makes New Investment in M&T Bank Corporation (NYSE:MTB)

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in M&T Bank Corporation, purchasing 2,218 shares valued at approximately $396,000 during the first quarter.
• M&T Bank's recent earnings report showed earnings per share (EPS) of $4.28, beating estimates, with a revenue of $2.40 billion for the quarter.
• The company declared a quarterly dividend of $1.35 per share, yielding 2.9%, and has a dividend payout ratio of 34.97%.

ASR Vermogensbeheer N.V. bought a new stake in M&T Bank Corporation (NYSE:MTB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,218 shares of the financial services provider's stock, valued at approximately $396,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC acquired a new position in M&T Bank in the fourth quarter valued at about $29,000. Banque Transatlantique SA acquired a new position in M&T Bank in the fourth quarter valued at about $38,000. Grove Bank & Trust grew its stake in M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 114 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of M&T Bank during the first quarter worth about $46,000. Finally, Investors Research Corp boosted its position in shares of M&T Bank by 31.1% during the first quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock worth $53,000 after buying an additional 70 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. TD Cowen assumed coverage on M&T Bank in a research report on Thursday, May 15th. They set a "buy" rating and a $230.00 price objective for the company. Piper Sandler reduced their price objective on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Robert W. Baird reduced their price objective on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. DA Davidson upped their price objective on M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $212.88.

M&T Bank Stock Performance

NYSE:MTB traded up $4.64 on Tuesday, hitting $191.15. The company's stock had a trading volume of 934,972 shares, compared to its average volume of 1,107,018. 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 has a fifty day moving average of $191.07 and a two-hundred day moving average of $183.91. The firm has a market capitalization of $29.87 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63. M&T Bank Corporation has a one year low of $150.75 and a one year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.24. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. During the same quarter in the prior year, the company earned $3.73 earnings per share. Research analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.8%. M&T Bank's dividend payout ratio (DPR) is 34.97%.

Insider Transactions at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the transaction, the director owned 23,070 shares in the company, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter D'arcy sold 2,461 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total value of $485,579.91. Following the transaction, the executive vice president owned 9,319 shares in the company, valued at approximately $1,838,731.89. This trade represents a 20.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,438 shares of company stock worth $1,967,346. Company insiders own 0.53% of the company's stock.

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.