M&T Bank Corporation $MTB Shares Purchased by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC increased its stake in M&T Bank Corporation by 390.5% during the first quarter, owning approximately 0.22% of the company worth around $62.5 million.
• M&T Bank reported earnings of $4.28 per share in its recent quarterly results, surpassing estimates, and has a current dividend yield of 2.8%.
• Analysts have given M&T Bank an average rating of "Moderate Buy" with a price target around $212.88, reflecting positive sentiment despite a mix of ratings from various firms.

Brandywine Global Investment Management LLC raised its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 390.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 349,506 shares of the financial services provider's stock after purchasing an additional 278,246 shares during the period. Brandywine Global Investment Management LLC owned about 0.22% of M&T Bank worth $62,474,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. High Falls Advisors Inc raised its position in M&T Bank by 67.6% during the 1st quarter. High Falls Advisors Inc now owns 2,505 shares of the financial services provider's stock valued at $448,000 after purchasing an additional 1,010 shares in the last quarter. Aberdeen Group plc raised its position in shares of M&T Bank by 97.2% in the 1st quarter. Aberdeen Group plc now owns 117,792 shares of the financial services provider's stock worth $20,873,000 after acquiring an additional 58,065 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of M&T Bank by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,611,137 shares of the financial services provider's stock worth $287,932,000 after acquiring an additional 12,580 shares in the last quarter. Horizon Investments LLC raised its position in shares of M&T Bank by 4.1% in the 1st quarter. Horizon Investments LLC now owns 2,411 shares of the financial services provider's stock worth $431,000 after acquiring an additional 94 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of M&T Bank by 12.6% in the 1st quarter. Sei Investments Co. now owns 92,608 shares of the financial services provider's stock worth $17,006,000 after acquiring an additional 10,335 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the transaction, the director owned 23,070 shares of the company's stock, valued at $4,233,806.40. This represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the 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 transaction, the director directly owned 4,881 shares of the company's stock, valued at $963,899.88. The trade was a 20.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,438 shares of company stock valued at $1,967,346 over the last quarter. 0.53% of the stock is currently owned by insiders.

M&T Bank Stock Performance

Shares of MTB traded up $0.53 during mid-day trading on Monday, reaching $190.60. The company had a trading volume of 729,790 shares, compared to its average volume of 911,480. M&T Bank Corporation has a 52-week low of $150.75 and a 52-week high of $225.70. 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 capitalization of $29.78 billion, a P/E ratio of 12.34, a PEG ratio of 0.93 and a beta of 0.63. The stock has a 50 day moving average of $191.74 and a two-hundred day moving average of $183.62.

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

M&T Bank Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.8%. M&T Bank's dividend payout ratio is presently 34.97%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MTB shares. Wells Fargo & Company boosted their price target on M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. Royal Bank Of Canada reissued an "outperform" rating and issued a $200.00 price target on shares of M&T Bank in a research report on Monday, May 19th. Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. DA Davidson boosted their price target on M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Jefferies Financial Group set a $225.00 target price on M&T Bank and gave the company a "buy" rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, M&T Bank has an average rating of "Moderate Buy" and a consensus price target of $212.88.

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.