M&T Bank Corporation (NYSE:MTB) Stock Holdings Increased 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.

Several other institutional investors and hedge funds have also made changes to their positions in MTB. FMR LLC boosted its position in shares of M&T Bank by 14.3% in the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after purchasing an additional 1,761,014 shares during the period. Geode Capital Management LLC lifted its position in M&T Bank by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock worth $819,768,000 after acquiring an additional 40,948 shares during the period. Norges Bank acquired a new stake in M&T Bank during the 4th quarter worth approximately $317,690,000. Northern Trust Corp raised its stake in shares of M&T Bank by 14.7% during the 4th quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider's stock worth $316,483,000 after buying an additional 215,100 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of M&T Bank by 2.1% during the 4th quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider's stock worth $301,892,000 after buying an additional 33,017 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

M&T Bank Stock Down 0.5%

Shares of NYSE MTB traded down $1.08 during midday trading on Wednesday, reaching $199.72. 220,446 shares of the company's stock were exchanged, compared to its average volume of 1,184,040. M&T Bank Corporation has a 52-week low of $146.77 and a 52-week high of $225.70. The stock has a market capitalization of $32.06 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.45 and a beta of 0.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 0.97. The business's fifty day moving average price is $184.69 and its two-hundred day moving average price is $183.83.

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

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Monday, June 2nd. M&T Bank's payout ratio is 36.17%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MTB shares. TD Cowen started 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. Morgan Stanley raised their price objective on M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Deutsche Bank Aktiengesellschaft upgraded M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price objective on the stock in a report on Thursday, April 24th. Wells Fargo & Company reduced their target price on M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. reduced their target price on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.48.

Insider Activity

In related news, 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. The trade was a 22.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.53% of the company's stock.

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.