Bank of New York Mellon Corp Makes New Investment in M&T Bank Corporation $MTB

Bank of New York Mellon Corp bought a new stake in shares of M&T Bank Corporation (NYSE:MTB - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,390,604 shares of the financial services provider's stock, valued at approximately $330,978,000. Bank of New York Mellon Corp owned approximately 0.95% of M&T Bank as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MTB. Barclays PLC increased its stake in M&T Bank by 3.9% in the fourth quarter. Barclays PLC now owns 530,305 shares of the financial services provider's stock worth $106,846,000 after purchasing an additional 20,120 shares during the period. Davis Asset Management L.P. increased its stake in shares of M&T Bank by 23.1% in the fourth quarter. Davis Asset Management L.P. now owns 400,000 shares of the financial services provider's stock worth $80,592,000 after acquiring an additional 75,000 shares during the period. Russell Investments Group Ltd. grew its position in M&T Bank by 35.4% during the fourth quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider's stock valued at $79,954,000 after buying an additional 103,692 shares during the period. LSV Asset Management lifted its holdings in 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 valued at $78,960,000 after purchasing an additional 49,500 shares in the last quarter. Finally, RNC Capital Management LLC raised its position in shares of M&T Bank by 1.0% in the fourth quarter. RNC Capital Management LLC now owns 365,052 shares of the financial services provider's stock valued at $73,551,000 after buying an additional 3,618 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

Shares of MTB stock opened at $240.61 on Friday. The firm has a market cap of $34.75 billion, a P/E ratio of 12.70, a PEG ratio of 1.10 and a beta of 0.57. The stock's 50-day moving average is $243.19 and its two-hundred day moving average is $225.55. M&T Bank Corporation has a fifty-two week low of $174.76 and a fifty-two week 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.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS 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 company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the company posted $4.28 earnings per share. Analysts predict that M&T Bank Corporation will post 19.43 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 1st. M&T Bank's dividend payout ratio (DPR) is presently 31.68%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered M&T Bank from a "buy" rating to a "hold" rating and set a $250.00 price target on the stock. in a research note on Thursday, July 23rd. Barclays lifted their price target on M&T Bank from $236.00 to $267.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. Robert W. Baird raised their target price on shares of M&T Bank from $240.00 to $250.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of M&T Bank in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. upped their price target on M&T Bank from $251.50 to $265.50 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, M&T Bank currently has a consensus rating of "Hold" and a consensus target price of $253.43.

M&T Bank Company 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.

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