M&T Bank Corporation (NYSE:MTB) Position Boosted by National Pension Service

Key Points

• The National Pension Service increased its stake in M&T Bank Corporation by 4.6% in Q1, owning 255,470 shares valued at approximately $45.67 million.
• M&T Bank reported earnings of $4.28 per share for the last quarter, surpassing analysts' expectations of $4.04, with total revenue of $2.4 billion.
• The company declared a quarterly dividend of $1.35 per share, resulting in an annualized yield of 2.8% and a payout ratio of 34.97%.

National Pension Service increased its position in M&T Bank Corporation (NYSE:MTB - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,470 shares of the financial services provider's stock after purchasing an additional 11,339 shares during the quarter. National Pension Service owned 0.16% of M&T Bank worth $45,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wood Tarver Financial Group LLC acquired a new stake in M&T Bank in the fourth quarter valued at $29,000. Banque Transatlantique SA acquired a new stake in M&T Bank in the fourth quarter valued at $38,000. Grove Bank & Trust raised its holdings in M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 114 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in M&T Bank in the first quarter valued at $46,000. Finally, Investors Research Corp raised its holdings in M&T Bank by 31.1% in the first quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 70 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MTB has been the topic of several recent analyst reports. Wall Street Zen raised shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Wells Fargo & Company upped their price target on shares of M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. DA Davidson raised their price target on shares of M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Citigroup raised their price target on shares of M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $212.88.

M&T Bank Stock Performance

Shares of MTB stock traded down $3.66 during trading hours on Friday, reaching $190.29. The stock had a trading volume of 741,901 shares, compared to its average volume of 933,968. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97. M&T Bank Corporation has a twelve month low of $150.75 and a twelve month high of $225.70. The firm has a 50-day simple moving average of $191.74 and a 200-day simple moving average of $183.75. The firm has a market capitalization 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.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The business had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter last year, the company earned $3.73 EPS. As a group, equities analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

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

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $197.48, for a total transaction of $252,181.96. Following the transaction, the director owned 4,881 shares of the company's stock, valued at approximately $963,899.88. This trade represents a 20.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter D'arcy sold 2,461 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the transaction, the executive vice president directly owned 9,319 shares in the company, valued at approximately $1,838,731.89. The trade was a 20.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,438 shares of company stock valued at $1,967,346. Company insiders own 0.53% of the company's stock.

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.