M&T Bank Corporation (NYSE:MTB) Shares Purchased by IFM Investors Pty Ltd

IFM Investors Pty Ltd boosted its stake in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,578 shares of the financial services provider's stock after purchasing an additional 3,306 shares during the quarter. IFM Investors Pty Ltd's holdings in M&T Bank were worth $5,625,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MTB. Quadrant Capital Group LLC increased its holdings in shares of M&T Bank by 5.8% in the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock valued at $183,000 after acquiring an additional 53 shares during the last quarter. Marcum Wealth LLC increased its holdings in shares of M&T Bank by 4.9% in the 1st quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock valued at $220,000 after acquiring an additional 57 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of M&T Bank by 1.7% in the 4th quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock valued at $660,000 after purchasing an additional 60 shares during the period. Forum Financial Management LP boosted its position in shares of M&T Bank by 2.2% in the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock valued at $540,000 after purchasing an additional 62 shares during the period. Finally, Checchi Capital Advisers LLC boosted its position in shares of M&T Bank by 4.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider's stock valued at $282,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insider Activity at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction 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 owned 23,070 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTB. Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Wells Fargo & Company decreased their target price on M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a research report on Tuesday, April 15th. Royal Bank Of Canada reissued an "outperform" rating and issued a $200.00 target price on shares of M&T Bank in a research report on Monday, May 19th. TD Cowen began coverage on M&T Bank in a research report on Thursday, May 15th. They issued a "buy" rating and a $230.00 target price for the company. Finally, DA Davidson decreased their price objective on M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.48.

M&T Bank Price Performance

M&T Bank stock traded down $1.92 during mid-day trading on Monday, hitting $200.66. 742,169 shares of the company were exchanged, compared to its average volume of 1,187,399. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.97 and a quick ratio of 0.97. The business's 50 day simple moving average is $183.43 and its two-hundred day simple moving average is $183.63. The company has a market capitalization of $32.21 billion, a P/E ratio of 13.44, a PEG ratio of 1.46 and a beta of 0.63. M&T Bank Corporation has a 12-month low of $146.71 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The business had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a net margin of 19.86% and a return on equity of 10.18%. During the same period in the prior year, the firm earned $3.09 EPS. Analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Monday, June 2nd. M&T Bank's dividend payout ratio is currently 36.17%.

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.