Hudson Edge Investment Partners Inc. Has $7.85 Million Stake in M&T Bank Corporation $MTB

Key Points

• Hudson Edge Investment Partners Inc. increased its stake in M&T Bank Corporation by 6.3%, holding a total of 40,483 shares valued at approximately $7.85 million as of the latest SEC filing.
• Several other institutional investors, including Cornell Pochily Investment Advisors Inc. and V Square Quantitative Management LLC, have also increased their stakes in M&T Bank during the same quarter.
• M&T Bank recently raised its quarterly dividend from $1.35 to $1.50, resulting in an annualized dividend yield of 3.1%.

Hudson Edge Investment Partners Inc. raised its position in M&T Bank Corporation (NYSE:MTB - Free Report) by 6.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 40,483 shares of the financial services provider's stock after acquiring an additional 2,414 shares during the period. M&T Bank comprises 1.3% of Hudson Edge Investment Partners Inc.'s portfolio, making the stock its 11th biggest position. Hudson Edge Investment Partners Inc.'s holdings in M&T Bank were worth $7,853,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MTB. Cornell Pochily Investment Advisors Inc. lifted its position in M&T Bank by 50.7% during the 2nd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,343 shares of the financial services provider's stock worth $455,000 after buying an additional 788 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in M&T Bank by 18.3% during the second quarter. V Square Quantitative Management LLC now owns 2,354 shares of the financial services provider's stock worth $457,000 after acquiring an additional 364 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in M&T Bank by 12.0% during the second quarter. ST Germain D J Co. Inc. now owns 14,553 shares of the financial services provider's stock valued at $2,823,000 after purchasing an additional 1,560 shares during the last quarter. CX Institutional grew its stake in M&T Bank by 16.5% in the second quarter. CX Institutional now owns 1,580 shares of the financial services provider's stock valued at $307,000 after purchasing an additional 224 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in M&T Bank by 9.5% in the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 232,896 shares of the financial services provider's stock valued at $45,179,000 after purchasing an additional 20,191 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Insiders Place Their Bets

In related news, Director Richard H. Jr. Ledgett sold 1,277 shares of the company'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 transaction, the director directly owned 4,881 shares in the company, valued at approximately $963,899.88. This represents a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter D'arcy sold 2,461 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total transaction of $485,579.91. Following the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $1,838,731.89. This represents a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,738 shares of company stock worth $3,734,612 in the last 90 days. Company insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of analyst reports. Jefferies Financial Group upped their price objective on M&T Bank from $220.00 to $240.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Cantor Fitzgerald initiated coverage on shares of M&T Bank in a report on Wednesday, September 10th. They set an "overweight" rating and a $228.00 target price on the stock. Citigroup increased their price target on shares of M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Evercore ISI lifted their price objective on shares of M&T Bank from $222.00 to $225.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, M&T Bank presently has an average rating of "Moderate Buy" and a consensus target price of $215.53.

M&T Bank Stock Up 0.1%

M&T Bank stock opened at $195.55 on Friday. The company's 50-day moving average price is $195.54 and its two-hundred day moving average price is $185.70. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. The stock has a market cap of $30.56 billion, a P/E ratio of 12.67, a P/E/G ratio of 0.96 and a beta of 0.62. M&T Bank Corporation has a twelve month low of $150.75 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.04 by $0.24. The company had revenue of $2.40 billion during the quarter, compared to analysts' expectations 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 quarter in the previous year, the company posted $3.73 earnings per share. As a group, analysts expect that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were issued a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $6.00 dividend on an annualized basis and a yield of 3.1%. This is a positive change from M&T Bank's previous quarterly dividend of $1.35. M&T Bank's payout ratio is currently 38.86%.

M&T Bank Company 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.

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