Hudson Edge Investment Partners Inc. Raises Stock Holdings in M&T Bank Corporation (NYSE:MTB)

Hudson Edge Investment Partners Inc. grew its stake in M&T Bank Corporation (NYSE:MTB - Free Report) by 6.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,069 shares of the financial services provider's stock after purchasing an additional 2,439 shares during the quarter. M&T Bank makes up about 1.4% of Hudson Edge Investment Partners Inc.'s holdings, making the stock its 13th largest position. Hudson Edge Investment Partners Inc.'s holdings in M&T Bank were worth $6,805,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Quadrant Capital Group LLC boosted its stake in shares of M&T Bank by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock worth $183,000 after buying an additional 53 shares during the last quarter. Marcum Wealth LLC increased its position in shares of M&T Bank by 4.9% during the 1st quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock valued at $220,000 after purchasing an additional 57 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of M&T Bank by 1.7% in the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock worth $660,000 after buying an additional 60 shares during the last quarter. Forum Financial Management LP grew its position in M&T Bank by 2.2% during the fourth quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock valued at $540,000 after buying an additional 62 shares during the period. Finally, Meridian Wealth Management LLC raised its position in M&T Bank by 3.8% in the fourth quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider's stock worth $336,000 after acquiring an additional 66 shares during the period. Institutional investors own 84.68% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Truist Financial cut their target price on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Evercore ISI reduced their price target 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. Morgan Stanley increased their price objective on M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Wall Street Zen upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Barclays cut their price objective on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of "Moderate Buy" and an average price target of $211.48.

Insiders Place Their Bets

In other M&T Bank 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 transaction of $1,229,584.00. Following the completion of the sale, the director directly owned 23,070 shares in the company, valued at approximately $4,233,806.40. The trade was a 22.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by company insiders.

M&T Bank Stock Up 1.3%

MTB traded up $2.52 during trading on Friday, reaching $202.58. The stock had a trading volume of 838,320 shares, compared to its average volume of 1,188,657. 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 price-to-earnings ratio of 13.57, a P/E/G ratio of 1.45 and a beta of 0.63. The stock's 50 day moving average is $182.73 and its two-hundred day moving average is $183.61. M&T Bank Corporation has a one year low of $145.82 and a one year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The business had revenue of $2.31 billion for the quarter, compared to analysts' expectations 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 earned $3.09 earnings per share. As a group, analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

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

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.