8,453 Shares in M&T Bank Corporation (NYSE:MTB) Acquired by Donoghue Forlines LLC

Key Points

• Donoghue Forlines LLC acquired a stake of 8,453 shares in M&T Bank Corporation, valued at approximately $1.5 million, indicating institutional interest in the bank.
• Multiple institutional investors have recently altered their positions in M&T Bank, with a total of 84.68% of the company's stock currently owned by these entities.
• M&T Bank announced a quarterly dividend of $1.35 per share, yielding 2.9% annually, highlighting the company's commitment to returning value to shareholders.

Donoghue Forlines LLC bought a new position in M&T Bank Corporation (NYSE:MTB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,453 shares of the financial services provider's stock, valued at approximately $1,511,000.

A number of other hedge funds have also recently added to or reduced their stakes in MTB. Wood Tarver Financial Group LLC bought a new stake in M&T Bank during the 4th quarter worth about $29,000. Banque Transatlantique SA acquired a new position in M&T Bank during the 4th quarter valued at about $38,000. Grove Bank & Trust lifted its position in M&T Bank by 104.6% during the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 114 shares during the period. Golden State Wealth Management LLC acquired a new position in M&T Bank during the 1st quarter valued at about $46,000. Finally, Investors Research Corp lifted its position in M&T Bank by 31.1% during the 1st quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 70 shares during the period. Institutional investors own 84.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MTB shares. DA Davidson increased 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 report on Thursday, July 17th. Piper Sandler lowered their target price 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. Jefferies Financial Group set a $225.00 target price on M&T Bank and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of M&T Bank in a research note on Monday, May 19th. Finally, Cowen initiated coverage on shares of M&T Bank in a research note on Wednesday, May 14th. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $212.88.

M&T Bank Stock Performance

M&T Bank stock traded down $0.74 during mid-day trading on Monday, hitting $186.43. 942,876 shares of the company's stock traded hands, compared to its average volume of 1,125,257. The firm has a 50 day simple moving average of $190.77 and a two-hundred day simple moving average of $183.95. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $225.70. The stock has a market cap of $29.13 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 0.92 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.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the firm earned $3.73 earnings per share. On average, research analysts expect that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.9%. M&T Bank's dividend payout ratio (DPR) is currently 34.97%.

Insider Transactions at M&T Bank

In related news, EVP Peter D'arcy sold 2,461 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total value of $485,579.91. Following the completion of the transaction, the executive vice president owned 9,319 shares of the company's stock, valued at $1,838,731.89. The trade was a 20.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,438 shares of company stock valued at $1,967,346. 0.53% of the stock is currently owned by corporate 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.