Natixis Advisors LLC Buys 27,733 Shares of M&T Bank Corporation $MTB

Key Points

• Natixis Advisors LLC increased its stake in M&T Bank by 11.9% in the fourth quarter, buying 27,733 additional shares and bringing its total holdings to 261,383 shares valued at about $52.7 million.
• M&T Bank reported stronger-than-expected quarterly results, with EPS of $4.18 beating estimates and revenue of $2.44 billion slightly ahead of forecasts. Analysts now expect the bank to earn 18.69 EPS for the full year.
• The company continued rewarding shareholders with a quarterly dividend of $1.50 per share and authorized a $5 billion stock buyback, signaling confidence in its valuation and capital position.

Natixis Advisors LLC raised its position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 11.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 261,383 shares of the financial services provider's stock after purchasing an additional 27,733 shares during the quarter. Natixis Advisors LLC owned approximately 0.17% of M&T Bank worth $52,663,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MTB. Root Financial Partners LLC increased its stake in shares of M&T Bank by 23.2% in the 4th quarter. Root Financial Partners LLC now owns 382 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 72 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of M&T Bank by 2.1% during the fourth quarter. Thoroughbred Financial Services LLC now owns 3,465 shares of the financial services provider's stock valued at $698,000 after purchasing an additional 70 shares during the period. Huntington National Bank boosted its position in shares of M&T Bank by 0.9% during the 4th quarter. Huntington National Bank now owns 364,865 shares of the financial services provider's stock worth $73,513,000 after purchasing an additional 3,215 shares in the last quarter. Cary Street Partners Financial LLC grew its stake in shares of M&T Bank by 286.7% in the 4th quarter. Cary Street Partners Financial LLC now owns 2,208 shares of the financial services provider's stock valued at $445,000 after buying an additional 1,637 shares during the period. Finally, Allstate Corp increased its position in M&T Bank by 99.4% in the 4th quarter. Allstate Corp now owns 11,242 shares of the financial services provider's stock valued at $2,265,000 after buying an additional 5,604 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $214.17 on Thursday. M&T Bank Corporation has a 12 month low of $174.76 and a 12 month high of $239.00. The firm has a market capitalization of $31.36 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.10 and a beta of 0.57. The business's 50-day moving average price is $213.03 and its 200-day moving average price is $210.55. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 EPS for the quarter, topping analysts' consensus estimates of $4.02 by $0.16. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.43 billion. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. During the same quarter last year, the company earned $3.32 EPS. Sell-side analysts forecast that M&T Bank Corporation will post 18.69 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, June 1st. M&T Bank's dividend payout ratio is 33.59%.

M&T Bank announced that its board has authorized a stock repurchase plan on Tuesday, March 31st that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 16.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on MTB shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $225.00 price target on shares of M&T Bank in a report on Thursday, May 21st. Jefferies Financial Group boosted their price target on shares of M&T Bank from $255.00 to $265.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. The Goldman Sachs Group increased their price objective on M&T Bank from $231.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, April 6th. Argus lifted their target price on shares of M&T Bank from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. Finally, JPMorgan Chase & Co. decreased their price objective on M&T Bank from $231.50 to $227.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, M&T Bank has an average rating of "Hold" and an average price target of $235.32.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $672,232.50. Following the completion of the transaction, the executive vice president owned 6,753 shares of the company's stock, valued at $1,462,024.50. This represents a 31.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.44% of the stock is currently owned by corporate insiders.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.