Credit Agricole S A Boosts Stock Holdings in M&T Bank Corporation $MTB

Key Points

• Credit Agricole S A increased its stake in M&T Bank Corporation by 7.6% in the first quarter, now holding 47,120 shares valued at approximately $8.4 million.
• M&T Bank reported an earnings per share (EPS) of $4.28 for the last quarter, surpassing analysts' expectations, and announced a quarterly dividend increase to $1.50 per share.
• Thirteen analysts currently rate M&T Bank stock as a Buy, with a consensus price target of $212.88, indicating positive market sentiment.

Credit Agricole S A grew its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,120 shares of the financial services provider's stock after purchasing an additional 3,324 shares during the quarter. Credit Agricole S A's holdings in M&T Bank were worth $8,423,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its stake in M&T Bank by 53.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 184 shares during the period. Private Trust Co. NA grew its stake in M&T Bank by 16.5% in the 1st quarter. Private Trust Co. NA now owns 644 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 91 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in M&T Bank in the 1st quarter valued at $225,000. Kingswood Wealth Advisors LLC grew its stake in M&T Bank by 4.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,076 shares of the financial services provider's stock valued at $370,000 after acquiring an additional 88 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in M&T Bank in the 1st quarter valued at $46,000. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Price Performance

M&T Bank stock opened at $192.2010 on Friday. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $225.70. The firm has a market capitalization of $30.04 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.95 and a beta of 0.63. The company has a fifty day simple moving average of $192.29 and a 200-day simple moving average of $183.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47.

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

M&T Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from M&T Bank's previous quarterly dividend of $1.35. M&T Bank's dividend payout ratio is presently 38.86%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MTB. Cowen began coverage on shares of M&T Bank in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. DA Davidson lifted their price target on shares of M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Jefferies Financial Group set a $225.00 price target on shares of M&T Bank and gave the company a "buy" rating in a research note on Wednesday, May 21st. Citigroup lifted their price target on shares of M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $200.00 target price on shares of M&T Bank in a report on Monday, May 19th. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, M&T Bank presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.88.

Insider Activity

In other news, Director Richard H. Jr. Ledgett sold 1,277 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $197.48, for a total transaction of $252,181.96. Following the transaction, the director owned 4,881 shares of the company's stock, valued at approximately $963,899.88. The trade was a 20.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Peter D'arcy sold 2,461 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $1,838,731.89. The trade was a 20.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,438 shares of company stock valued at $1,967,346. 0.53% of the stock is currently owned by insiders.

M&T Bank 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.

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