M&T Bank Corporation (NYSE:MTB) Stock Position Reduced by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its stake in M&T Bank Corporation by 43.0%, now owning 22,111 shares valued at approximately $3.95 million.
• M&T Bank recently announced a quarterly dividend of $1.35 per share, reflecting an annualized dividend yield of 2.8%.
• The stock has a market cap of $29.74 billion and recently reported earnings per share of $4.28, surpassing analyst estimates.

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 43.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,111 shares of the financial services provider's stock after selling 16,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in M&T Bank were worth $3,952,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Marcum Wealth LLC raised its position in shares of M&T Bank by 4.9% during the 1st quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock worth $220,000 after purchasing an additional 57 shares during the period. Forum Financial Management LP raised its position in shares of M&T Bank by 2.2% during the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock worth $540,000 after purchasing an additional 62 shares during the period. Checchi Capital Advisers LLC raised its position in shares of M&T Bank by 4.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider's stock worth $282,000 after purchasing an additional 67 shares during the period. Investors Research Corp raised its position in shares of M&T Bank by 31.1% during the 1st quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock worth $53,000 after purchasing an additional 70 shares during the period. Finally, Mayflower Financial Advisors LLC raised its position in shares of M&T Bank by 3.9% during the 1st quarter. Mayflower Financial Advisors LLC now owns 1,876 shares of the financial services provider's stock worth $335,000 after purchasing an additional 70 shares during the period. Institutional investors own 84.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Jefferies Financial Group set a $225.00 price target on M&T Bank and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Royal Bank Of Canada reiterated an "outperform" rating and set a $200.00 price target on shares of M&T Bank in a research report on Monday, May 19th. DA Davidson increased 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. Wall Street Zen upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, TD Cowen started coverage on M&T Bank in a research report on Thursday, May 15th. They issued a "buy" rating and a $230.00 target price on the stock. 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's stock. According to data from MarketBeat, M&T Bank presently has a consensus rating of "Moderate Buy" and an average target price of $212.88.

M&T Bank Stock Down 1.9%

Shares of MTB stock opened at $190.29 on Friday. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70. The stock has a market cap of $29.74 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.93 and a beta of 0.63. The business's fifty day moving average is $191.74 and its 200-day moving average is $183.75. 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 (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.39 billion. During the same period last year, the firm earned $3.73 EPS. Equities analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared 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. The ex-dividend date was Monday, June 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.8%. M&T Bank's dividend payout ratio (DPR) is 34.97%.

Insider Activity

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 transaction of $1,229,584.00. Following the transaction, the director directly owned 23,070 shares in the company, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of M&T Bank stock in a transaction 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 owned 4,881 shares in the company, valued at approximately $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,438 shares of company stock worth $1,967,346. 0.53% of the stock is owned by company 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.

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