Hsbc Holdings PLC Buys 62,877 Shares of M&T Bank Corporation $MTB

Key Points

• HSBC Holdings increased its M&T Bank stake by 18.9%, purchasing 62,877 shares to own 396,157 shares worth approximately $94.4 million. Institutional investors collectively own 84.68% of the stock.
• Analysts maintain a largely neutral outlook, with a consensus “Hold” rating and an average price target of $253.43; individual targets range from $250 to $267.
• M&T Bank exceeded quarterly expectations with $5.35 in earnings per share and $2.53 billion in revenue, and declared a $1.50 quarterly dividend, equivalent to a 2.5% annual yield.

Hsbc Holdings PLC boosted its stake in M&T Bank Corporation (NYSE:MTB - Free Report) by 18.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 396,157 shares of the financial services provider's stock after buying an additional 62,877 shares during the period. Hsbc Holdings PLC owned 0.27% of M&T Bank worth $94,364,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bogart Wealth LLC raised its position in shares of M&T Bank by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider's stock worth $25,000 after acquiring an additional 84 shares in the last quarter. First Bancorp Inc ME purchased a new position in shares of M&T Bank in the 2nd quarter valued at approximately $25,000. Triumph Capital Management bought a new stake in shares of M&T Bank during the third quarter valued at approximately $32,000. Elyxium Wealth LLC bought a new stake in shares of M&T Bank during the fourth quarter valued at approximately $33,000. Finally, Bank of Jackson Hole Trust boosted its position in shares of M&T Bank by 38.7% during the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 60 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MTB shares. Wall Street Zen upgraded M&T Bank from a "sell" rating to a "hold" rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft cut shares of M&T Bank from a "buy" rating to a "hold" rating and set a $250.00 target price on the stock. in a report on Thursday, July 23rd. Barclays upped their target price on shares of M&T Bank from $236.00 to $267.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 16th. Royal Bank Of Canada increased their price target on shares of M&T Bank from $230.00 to $255.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Finally, DA Davidson boosted their price objective on shares of M&T Bank from $263.00 to $266.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $253.43.

Insiders Place Their Bets

In other news, Director Rudina Seseri sold 623 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the transaction, the director owned 3,649 shares in the company, valued at approximately $879,554.96. This represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.44% of the company's stock.

M&T Bank Trading Up 0.1%

M&T Bank stock opened at $240.05 on Monday. M&T Bank Corporation has a 12 month low of $174.76 and a 12 month high of $255.95. The company has a market capitalization of $34.67 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.36 and a beta of 0.56. The business's fifty day simple moving average is $244.88 and its two-hundred day simple moving average is $225.92. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.53.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results 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 period last year, the company earned $4.28 earnings per share. As a group, equities analysts predict that M&T Bank Corporation will post 19.43 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be paid 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 (DPR) is currently 31.68%.

M&T Bank Profile

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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