1,657 Shares in M&T Bank Corporation (NYSE:MTB) Bought by Diversified Trust Co

Diversified Trust Co bought a new position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,657 shares of the financial services provider's stock, valued at approximately $296,000.

Other hedge funds have also bought and sold shares of the company. FMR LLC raised its stake in M&T Bank by 14.3% in the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after acquiring an additional 1,761,014 shares during the period. Charles Schwab Investment Management Inc. lifted its position in M&T Bank by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock valued at $994,522,000 after purchasing an additional 252,583 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of M&T Bank by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock worth $819,768,000 after acquiring an additional 40,948 shares during the last quarter. Norges Bank purchased a new position in shares of M&T Bank in the 4th quarter worth about $317,690,000. Finally, Northern Trust Corp boosted its stake in M&T Bank by 14.7% in the fourth quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider's stock worth $316,483,000 after buying an additional 215,100 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

M&T Bank stock traded up $2.52 during midday trading on Friday, hitting $202.58. The stock had a trading volume of 838,320 shares, compared to its average volume of 1,188,657. The firm's fifty day moving average is $182.73 and its two-hundred day moving average is $183.61. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $32.52 billion, a PE ratio of 13.57, a P/E/G ratio of 1.45 and a beta of 0.63. M&T Bank Corporation has a 52-week low of $145.82 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. During the same period last year, the business posted $3.09 EPS. On average, research analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.67%. M&T Bank's dividend payout ratio (DPR) is 36.17%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Cowen began coverage on shares of M&T Bank in a research report on Wednesday, May 14th. They set a "buy" rating for the company. Morgan Stanley lifted their price target on shares of M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Evercore ISI decreased their target price on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. decreased their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Finally, Piper Sandler lowered their price objective on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.48.

Insider Activity at M&T Bank

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the sale, the director owned 23,070 shares in the company, valued at approximately $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company's stock.

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.