M&T Bank Corporation $MTB Position Increased by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec increased its position in M&T Bank by 31.5%, owning 19,708 shares valued at $3.524 million at the end of the 1st quarter.
• M&T Bank recently announced a quarterly dividend increase from $1.35 to $1.50, yielding 3.0% on an annual basis.
• Analysts have set new price targets for M&T Bank, with the average target now at $213.63, reflecting a generally optimistic view with 13 "buy" ratings.

Federation des caisses Desjardins du Quebec grew its position in M&T Bank Corporation (NYSE:MTB - Free Report) by 31.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,708 shares of the financial services provider's stock after buying an additional 4,716 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in M&T Bank were worth $3,524,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MTB. Schonfeld Strategic Advisors LLC grew its position 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 purchasing an additional 767 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of M&T Bank by 2.7% in the fourth 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. Cary Street Partners Financial LLC acquired a new stake in shares of M&T Bank in the fourth quarter worth $114,000. Captrust Financial Advisors grew its holdings in shares of M&T Bank by 17.8% during the fourth quarter. Captrust Financial Advisors now owns 9,141 shares of the financial services provider's stock valued at $1,719,000 after buying an additional 1,380 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of M&T Bank by 8.7% during the fourth quarter. Cetera Investment Advisers now owns 31,714 shares of the financial services provider's stock valued at $5,963,000 after buying an additional 2,526 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $197.48, for a total transaction of $252,181.96. Following the transaction, the director directly owned 4,881 shares in the company, valued at $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert E. Sadler, Jr. sold 6,700 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $183.52, for a total value of $1,229,584.00. Following the completion of the sale, the director directly owned 23,070 shares of the company's stock, valued at $4,233,806.40. This represents a 22.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,438 shares of company stock valued at $4,964,196. Corporate insiders own 0.53% of the company's stock.

M&T Bank Trading Down 1.4%

NYSE:MTB opened at $199.63 on Friday. The company has a market capitalization of $31.20 billion, a P/E ratio of 12.93, a P/E/G ratio of 0.99 and a beta of 0.67. The stock's 50 day moving average price is $195.53 and its 200 day moving average price is $183.74. 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 Corporation has a 52 week low of $150.75 and a 52 week high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the firm posted $3.73 earnings per share. On average, research analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be issued a $1.50 dividend. This is a boost from M&T Bank's previous quarterly dividend of $1.35. This represents a $6.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, September 2nd. M&T Bank's dividend payout ratio is currently 38.86%.

Analysts Set New Price Targets

MTB has been the subject of several research analyst reports. TD Cowen assumed coverage on M&T Bank in a research note on Thursday, May 15th. They issued a "buy" rating and a $230.00 price objective for the company. Jefferies Financial Group increased their price target on shares of M&T Bank from $220.00 to $240.00 and gave the stock a "buy" rating in a research report on Wednesday. Morgan Stanley boosted 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 report on Friday, June 20th. Wells Fargo & Company upped 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. Finally, DA Davidson lifted their target price on shares of M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $213.63.

M&T Bank 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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