Empowered Funds LLC Acquires 12,599 Shares of M&T Bank Corporation $MTB

Key Points

• Empowered Funds increased its M&T Bank stake by 14.4% in the second quarter, purchasing 12,599 additional shares and bringing its holdings to 99,840 shares valued at approximately $23.8 million. Institutional investors collectively own 84.68% of the company.
• M&T Bank reported quarterly earnings of $5.35 per share, exceeding analyst expectations of $4.66, while revenue reached $2.53 billion versus the $2.46 billion consensus estimate.
• Analysts maintain a broadly neutral outlook, with a consensus “Hold” rating and a $253.43 price target. The company also declared a $1.50 quarterly dividend, equivalent to a 2.5% annual yield.

Empowered Funds LLC boosted its stake in M&T Bank Corporation (NYSE:MTB - Free Report) by 14.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,840 shares of the financial services provider's stock after purchasing an additional 12,599 shares during the quarter. Empowered Funds LLC owned about 0.07% of M&T Bank worth $23,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in MTB. Bank of New York Mellon Corp bought a new stake in shares of M&T Bank during the 2nd quarter worth $330,978,000. Davis Asset Management L.P. bought a new stake in M&T Bank during the second quarter worth about $97,584,000. Danske Bank A S purchased a new position in shares of M&T Bank in the 3rd quarter worth about $29,612,000. Russell Investments Group Ltd. boosted its holdings in shares of M&T Bank by 35.4% in the 4th quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider's stock worth $79,954,000 after purchasing an additional 103,692 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in shares of M&T Bank during the 4th quarter valued at about $17,697,000. Institutional investors own 84.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MTB. Evercore set a $260.00 price objective on M&T Bank in a report on Monday, July 6th. Royal Bank Of Canada increased their price target on shares of M&T Bank from $230.00 to $255.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. Wells Fargo & Company lifted their price target on shares of M&T Bank from $215.00 to $224.00 and gave the stock an "underweight" rating in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Monday, July 20th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $300.00 price objective on shares of M&T Bank in a research note on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $253.43.

M&T Bank Trading Down 1.2%

Shares of MTB stock opened at $238.52 on Friday. The business has a 50-day moving average of $244.34 and a 200 day moving average of $225.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. M&T Bank Corporation has a 1-year low of $174.76 and a 1-year high of $255.95. The stock has a market capitalization of $34.45 billion, a PE ratio of 12.59, a P/E/G ratio of 1.12 and a beta of 0.57.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same quarter in the previous year, the company posted $4.28 earnings per share. As a group, sell-side analysts anticipate that M&T Bank Corporation will post 19.43 earnings per share for the current year.

M&T Bank Announces Dividend

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

Insider Buying and Selling

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the completion of the sale, the director owned 3,649 shares of the company's stock, valued at $879,554.96. This represents a 14.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.44% of the stock is owned by corporate insiders.

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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