M&T Bank Corporation $MTB Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in M&T Bank Corporation by 0.8% during the first quarter, now owning 1.00% of the bank's shares, worth approximately $287.93 million.
• M&T Bank reported $4.28 earnings per share in its latest quarterly earnings, surpassing analysts' expectations of $4.04, with revenue reaching $2.40 billion.
• The company announced a quarterly dividend of $1.35 per share, reflecting an annualized yield of 2.8% and a payout ratio of 34.97%.

Dimensional Fund Advisors LP increased its holdings in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,611,137 shares of the financial services provider's stock after acquiring an additional 12,580 shares during the period. Dimensional Fund Advisors LP owned approximately 1.00% of M&T Bank worth $287,932,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MTB. Wood Tarver Financial Group LLC bought a new position in M&T Bank in the 4th quarter worth about $29,000. Banque Transatlantique SA bought a new stake in shares of M&T Bank in the 4th quarter worth $38,000. Grove Bank & Trust raised its stake in shares of M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock worth $40,000 after purchasing an additional 114 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of M&T Bank during the first quarter valued at $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 valued at $53,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Trading Down 0.5%

Shares of NYSE:MTB traded down $0.9790 during trading on Thursday, hitting $192.2010. The company had a trading volume of 633,566 shares, compared to its average volume of 1,253,115. The stock has a market cap of $30.04 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 0.93 and a beta of 0.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97. The company has a fifty day simple moving average of $192.13 and a two-hundred day simple moving average of $183.66. 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 announced its earnings results 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. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%.The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the business earned $3.73 earnings per share. As a group, equities analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $1.50 per share. The ex-dividend date is Tuesday, September 2nd. This is an increase from M&T Bank's previous quarterly dividend of $1.35. This represents a $6.00 annualized dividend and a dividend yield of 3.1%. M&T Bank's payout ratio is presently 34.97%.

Wall Street Analyst Weigh In

MTB has been the topic of several research reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $200.00 target price on shares of M&T Bank in a research report on Monday, May 19th. TD Cowen initiated coverage on M&T Bank in a research note on Thursday, May 15th. They issued a "buy" rating and a $230.00 price target for the company. Jefferies Financial Group set a $225.00 target price on M&T Bank and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target for the company in a report on Thursday, April 24th. Finally, Morgan Stanley upped their price objective on M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, M&T Bank presently has a consensus rating of "Moderate Buy" and an average price target of $212.88.

Insider Activity

In other M&T Bank news, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $197.48, for a total transaction of $252,181.96. Following the completion of the transaction, the director directly owned 4,881 shares of the company's stock, valued at approximately $963,899.88. This trade represents a 20.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Peter D'arcy sold 2,461 shares of M&T Bank stock in a transaction that occurred on Tuesday, July 22nd. The shares were 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 of the company's stock, valued at approximately $1,838,731.89. This represents a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,438 shares of company stock valued at $1,967,346 over the last ninety days. 0.53% of the stock is currently owned by insiders.

About M&T Bank

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.