Hsbc Holdings PLC Increases Stake in M&T Bank Corporation $MTB

Key Points

• Hsbc Holdings PLC increased its stake in M&T Bank Corporation by 2.6% in Q1, now owning 465,441 shares worth approximately $83 million.
• M&T Bank recently announced a quarterly dividend of $1.50 per share, reflecting a positive increase from the previous $1.35 dividend, with a yield of 3.1%.
• Analysts have set a consensus target price of $212.88 for M&T Bank's stock, with many rating it as a Moderate Buy.

Hsbc Holdings PLC increased its stake in M&T Bank Corporation (NYSE:MTB - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 465,441 shares of the financial services provider's stock after purchasing an additional 11,687 shares during the period. Hsbc Holdings PLC owned approximately 0.29% of M&T Bank worth $83,002,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wood Tarver Financial Group LLC bought a new position in M&T Bank during the fourth quarter valued at approximately $29,000. Banque Transatlantique SA bought a new position in M&T Bank during the fourth quarter valued at approximately $38,000. Grove Bank & Trust grew its holdings 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 in the first quarter worth approximately $46,000. Finally, Investors Research Corp grew its holdings in shares of M&T Bank by 31.1% in the first quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock worth $53,000 after purchasing an additional 70 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MTB has been the topic of several recent analyst reports. Morgan Stanley raised their target price on shares of M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. DA Davidson raised their target price on shares of M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. 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 report on Wednesday, July 2nd. Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Wells Fargo & Company lifted their price target on shares of M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $212.88.

M&T Bank Stock Performance

NYSE:MTB traded up $7.1850 during mid-day trading on Friday, reaching $199.6150. The company's stock had a trading volume of 1,111,448 shares, compared to its average volume of 868,752. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $225.70. The firm's fifty day moving average price is $192.73 and its two-hundred day moving average price is $183.54. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. The stock has a market cap of $31.19 billion, a P/E ratio of 12.93, a PEG ratio of 0.98 and a beta of 0.63.

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

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be paid a dividend of $1.50 per share. This is a boost from M&T Bank's previous quarterly dividend of $1.35. The ex-dividend date is Tuesday, September 2nd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.0%. M&T Bank's dividend payout ratio is presently 34.97%.

Insider Activity at M&T Bank

In related news, EVP Peter D'arcy sold 2,461 shares of the firm's stock in a transaction on 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 sale, the executive vice president directly owned 9,319 shares in the company, valued at $1,838,731.89. This trade represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $197.48, for a total value of $252,181.96. Following the completion of the sale, the director owned 4,881 shares in the company, valued at approximately $963,899.88. The trade was a 20.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,438 shares of company stock worth $1,967,346. 0.53% of the stock is owned by company 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.