Banque Transatlantique SA Boosts Holdings in M&T Bank Corporation $MTB

Key Points

• Banque Transatlantique SA has significantly increased its stake in M&T Bank Corporation by 1,100.0%, holding a total of 2,400 shares valued at approximately $396,000.
• M&T Bank recently announced a quarterly dividend increase from $1.35 to $1.50 per share, marking an annualized dividend yield of 3.0%.
• Analysts are optimistic about M&T Bank, with a consensus target price of $213.63 and a majority rating of "Buy" from various brokerages.

Banque Transatlantique SA grew its holdings in M&T Bank Corporation (NYSE:MTB - Free Report) by 1,100.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,400 shares of the financial services provider's stock after purchasing an additional 2,200 shares during the period. Banque Transatlantique SA's holdings in M&T Bank were worth $396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MTB. Schonfeld Strategic Advisors LLC increased its holdings in M&T Bank by 41.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,618 shares of the financial services provider's stock worth $492,000 after acquiring an additional 767 shares during the period. AXA S.A. boosted its stake in shares of M&T Bank by 1,419.6% in the 4th quarter. AXA S.A. now owns 25,438 shares of the financial services provider's stock valued at $4,783,000 after purchasing an additional 23,764 shares in the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of M&T Bank by 96.6% in the 4th quarter. Aptus Capital Advisors LLC now owns 4,073 shares of the financial services provider's stock valued at $766,000 after purchasing an additional 2,001 shares in the last quarter. Baird Financial Group Inc. boosted its stake in shares of M&T Bank by 2.7% in the 4th quarter. Baird Financial Group Inc. now owns 4,378 shares of the financial services provider's stock valued at $823,000 after purchasing an additional 114 shares in the last quarter. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of M&T Bank in the 4th quarter valued at $114,000. Institutional investors own 84.68% of the company's stock.

Insider Activity

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction that occurred 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 sale, the director owned 23,070 shares in the company, valued at $4,233,806.40. This trade represents a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John P. Barnes sold 15,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the completion of the sale, the director owned 17,866 shares in the company, valued at $3,569,448.14. This represents a 45.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,438 shares of company stock worth $4,964,196 in the last quarter. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MTB has been the subject of several research reports. Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Citigroup raised their price objective 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. Wells Fargo & Company raised their price objective on shares of M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. Morgan Stanley raised their price objective on shares of M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $200.00 price objective on shares of M&T Bank in a research note on Monday, May 19th. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, M&T Bank currently has a consensus rating of "Moderate Buy" and an average target price of $213.63.

M&T Bank Stock Performance

NYSE MTB traded down $0.32 on Monday, reaching $199.25. 687,458 shares of the stock were exchanged, compared to its average volume of 1,230,896. M&T Bank Corporation has a one year low of $150.75 and a one year high of $225.70. The firm has a market capitalization of $31.14 billion, a PE ratio of 12.90, a PEG ratio of 0.98 and a beta of 0.67. The company's 50-day simple moving average is $195.53 and its two-hundred day simple moving average is $183.54. 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. Analysts expect that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

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