Deutsche Bank AG Increases Stock Holdings in M&T Bank Corporation (NYSE:MTB)

Key Points

• Deutsche Bank AG increased its stake in M&T Bank Corporation by 20.3%, holding approximately 0.36% of the company valued at $104.75 million.
• M&T Bank reported $4.28 earnings per share for the last quarter, surpassing analyst expectations of $4.04, with revenue reaching $2.40 billion.
• The bank declared a quarterly dividend of $1.35 per share, equating to an annual yield of 2.9% and a payout ratio of 34.97%.

Deutsche Bank AG lifted its stake in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 20.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 586,038 shares of the financial services provider's stock after purchasing an additional 99,008 shares during the period. Deutsche Bank AG owned 0.36% of M&T Bank worth $104,754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Exchange Traded Concepts LLC increased its holdings in shares of M&T Bank by 53.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider's stock worth $94,000 after acquiring an additional 184 shares during the last quarter. Private Trust Co. NA grew its holdings in M&T Bank by 16.5% in the 1st quarter. Private Trust Co. NA now owns 644 shares of the financial services provider's stock valued at $115,000 after buying an additional 91 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in M&T Bank in the 1st quarter valued at $225,000. Kingswood Wealth Advisors LLC grew its holdings in M&T Bank by 4.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,076 shares of the financial services provider's stock valued at $370,000 after buying an additional 88 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in M&T Bank in the 1st quarter valued at $46,000. Institutional investors own 84.68% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MTB. Citigroup increased their target price on M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. DA Davidson increased their target price on M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Barclays reduced their target price on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 15th. Finally, Wells Fargo & Company increased their target price on M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $212.88.

M&T Bank Trading Up 2.5%

M&T Bank stock traded up $4.64 during trading hours on Tuesday, hitting $191.15. The stock had a trading volume of 934,972 shares, compared to its average volume of 1,107,018. 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 $29.87 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 0.91 and a beta of 0.63. M&T Bank Corporation has a one year low of $150.75 and a one year high of $225.70. The business's 50 day simple moving average is $191.07 and its 200-day simple moving average is $183.91.

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. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the company earned $3.73 earnings per share. On average, equities analysts predict that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, June 2nd. M&T Bank's payout ratio is presently 34.97%.

Insiders Place Their Bets

In other M&T Bank 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 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 in the company, valued at approximately $4,233,806.40. The trade was a 22.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $197.48, for a total value of $252,181.96. Following the sale, the director owned 4,881 shares of the company's stock, valued at approximately $963,899.88. This represents a 20.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,438 shares of company stock worth $1,967,346. 0.53% of the stock is owned by corporate insiders.

About M&T Bank

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.