Invesco Ltd. Purchases 468,758 Shares of M&T Bank Corporation (NYSE:MTB)

Key Points

• Invesco Ltd. increased its stake in M&T Bank Corporation by 15.2%, owning a total of 3,552,666 shares valued at approximately $635 million after acquiring an additional 468,758 shares.
• M&T Bank reported a quarterly earnings per share of $4.28, exceeding analysts' expectations of $4.04, along with a net margin of 20.44% and revenue of $2.40 billion.
• The company's latest dividend of $1.35 per share reflects a 2.9% yield, with a payout ratio of approximately 35% as of the recent disclosure.

Invesco Ltd. raised its stake in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 15.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,552,666 shares of the financial services provider's stock after purchasing an additional 468,758 shares during the quarter. Invesco Ltd. owned about 2.16% of M&T Bank worth $635,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Northern Trust Corp increased its stake in M&T Bank by 14.7% during the 4th quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider's stock valued at $316,483,000 after purchasing an additional 215,100 shares in the last quarter. First Trust Advisors LP increased its stake in M&T Bank by 2.1% during the 4th quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider's stock valued at $301,892,000 after purchasing an additional 33,017 shares in the last quarter. Nuveen Asset Management LLC increased its stake in M&T Bank by 22.3% during the 4th quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock valued at $294,662,000 after purchasing an additional 286,049 shares in the last quarter. Bank of New York Mellon Corp increased its stake in M&T Bank by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,442,381 shares of the financial services provider's stock valued at $257,826,000 after purchasing an additional 30,643 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in M&T Bank by 16.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,088,949 shares of the financial services provider's stock valued at $204,733,000 after purchasing an additional 155,374 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $187.22 on Friday. The company's fifty day moving average price is $190.77 and its 200 day moving average price is $184.04. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70. The company has a market capitalization of $29.26 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.92 and a beta of 0.63. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results 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. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the firm posted $3.73 earnings per share. On average, research analysts predict that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank's dividend payout ratio (DPR) is presently 34.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MTB. Citigroup upped 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. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 price target on shares of M&T Bank in a research note on Monday, May 19th. Wall Street Zen raised shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price objective on the stock in a report on Thursday, April 24th. Finally, Truist Financial dropped their price objective on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $212.88.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Peter D'arcy sold 2,461 shares of the stock in a transaction on Tuesday, July 22nd. The shares were 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 of the company's stock, valued at $1,838,731.89. This trade represents a 20.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,700 shares of the 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,438 shares of company stock valued at $1,967,346 over the last ninety days. Corporate insiders own 0.53% of the company's stock.

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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