Corient Private Wealth LP Boosts Stock Position in M&T Bank Corporation $MTB

Key Points

• Corient Private Wealth increased its M&T Bank position by 9% in the second quarter, acquiring 5,519 additional shares and bringing its holdings to 66,705 shares valued at approximately $15.9 million. Institutional investors collectively own 84.68% of the stock.
• M&T Bank reported quarterly earnings of $5.35 per share, exceeding estimates of $4.66, while revenue reached $2.53 billion. The bank declared a quarterly dividend of $1.50, equivalent to a 2.5% annual yield.
• MTB was trading at $237.86, below the analyst consensus price target of $253.43. Despite mixed ratings, including several “neutral” assessments, the overall analyst consensus remains “Hold.”

Corient Private Wealth LP grew its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 9.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,705 shares of the financial services provider's stock after purchasing an additional 5,519 shares during the quarter. Corient Private Wealth LP's holdings in M&T Bank were worth $15,876,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC lifted its position in M&T Bank by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider's stock worth $25,000 after buying an additional 84 shares during the last quarter. First Bancorp Inc ME bought a new position in M&T Bank during the second quarter valued at approximately $25,000. Triumph Capital Management bought a new position in M&T Bank during the third quarter valued at approximately $32,000. Elyxium Wealth LLC purchased a new position in shares of M&T Bank during the fourth quarter worth approximately $33,000. Finally, Bank of Jackson Hole Trust raised its stake in shares of M&T Bank by 38.7% during the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider's stock worth $43,000 after acquiring an additional 60 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Rudina Seseri sold 623 shares of M&T Bank 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 owned 3,649 shares in the company, valued at $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.44% of the stock is currently owned by company insiders.

M&T Bank Trading Down 0.3%

MTB opened at $237.86 on Friday. M&T Bank Corporation has a one year low of $174.76 and a one year 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 business has a 50 day simple moving average of $244.59 and a two-hundred day simple moving average of $225.84. The firm has a market capitalization of $34.35 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.10 and a beta of 0.57.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $2.46 billion. During the same period last year, the company earned $4.28 EPS. Analysts predict that M&T Bank Corporation will post 19.43 EPS for the current year.

M&T Bank Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MTB shares. Wells Fargo & Company upped their price objective on shares of M&T Bank from $215.00 to $224.00 and gave the company an "underweight" rating in a research note on Thursday, July 16th. UBS Group lifted their target price on shares of M&T Bank from $252.00 to $255.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted their price target on shares of M&T Bank from $251.50 to $265.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Weiss Ratings restated a "buy (b)" rating on shares of M&T Bank in a research report on Thursday, June 4th. Finally, Morgan Stanley raised their price objective on M&T Bank from $245.00 to $253.00 and gave the company an "equal weight" rating in a research note on Monday, June 29th. Seven 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, the company presently has a consensus rating of "Hold" and an average price target 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.

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