MBB Public Markets I LLC Purchases New Position in M&T Bank Corporation $MTB

Key Points

• MBB Public Markets I LLC has acquired a new stake in M&T Bank Corporation, purchasing 1,676 shares valued at approximately $300,000 during the first quarter.
• M&T Bank recently increased its quarterly dividend from $1.35 to $1.50 per share, reflecting an annual yield of 3.0%.
• Institutional investors own 84.68% of M&T Bank's shares, with recent positions adjusted by several major hedge funds, including Wellington Management Group LLP and Invesco Ltd.

MBB Public Markets I LLC acquired a new stake in shares of M&T Bank Corporation (NYSE:MTB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,676 shares of the financial services provider's stock, valued at approximately $300,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in M&T Bank by 33.1% during the first quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider's stock valued at $1,768,564,000 after purchasing an additional 2,460,315 shares during the period. Invesco Ltd. lifted its position in M&T Bank by 15.2% during the first quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider's stock valued at $635,039,000 after purchasing an additional 468,758 shares during the period. Northern Trust Corp lifted its position in M&T Bank by 2.3% during the first quarter. Northern Trust Corp now owns 1,721,410 shares of the financial services provider's stock valued at $307,702,000 after purchasing an additional 38,081 shares during the period. Dimensional Fund Advisors LP lifted its holdings in M&T Bank by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,611,137 shares of the financial services provider's stock valued at $287,932,000 after acquiring an additional 12,580 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in M&T Bank by 22.3% in the fourth quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock valued at $294,662,000 after acquiring an additional 286,049 shares during the period. Institutional investors own 84.68% of the company's stock.

Insider Buying and Selling

In related news, EVP Peter D'arcy sold 2,461 shares of the 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 completion of the sale, the executive vice president owned 9,319 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director John P. Barnes sold 15,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the completion of the transaction, the director owned 17,866 shares of the company's stock, valued at $3,569,448.14. The trade was a 45.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,738 shares of company stock worth $3,734,612. 0.53% of the stock is owned by corporate insiders.

M&T Bank Price Performance

NYSE MTB opened at $198.03 on Friday. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $225.70. The stock has a market cap of $30.95 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.97 and a beta of 0.67. The company's 50 day moving average is $195.55 and its two-hundred day moving average is $183.82. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 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 company had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter last year, the business earned $3.73 EPS. As a group, research analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be given a dividend of $1.50 per share. This is an increase from M&T Bank's previous quarterly dividend of $1.35. This represents a $6.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 2nd. M&T Bank's dividend payout ratio (DPR) is 38.86%.

Analyst Ratings Changes

MTB has been the subject of several research reports. 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 report on Wednesday, July 2nd. Jefferies Financial Group boosted their target price on shares of M&T Bank from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 target price on shares of M&T Bank in a research report on Monday, May 19th. Morgan Stanley boosted their target price on shares of M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Finally, TD Cowen assumed coverage on shares of M&T Bank in a research report on Thursday, May 15th. They set a "buy" rating and a $230.00 target price for the company. Fourteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, M&T Bank currently has a consensus rating of "Moderate Buy" and a consensus target price of $214.31.

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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