Natixis Advisors LLC Raises Position in M&T Bank Corporation (NYSE:MTB)

Key Points

• Natixis Advisors LLC has increased its position in M&T Bank Corporation by 6.7% during the first quarter, holding 187,440 shares valued at approximately $33.5 million.
• Several brokerages have adjusted their price targets for M&T Bank, with Piper Sandler lowering its target from $220.00 to $210.00 and JPMorgan Chase & Co. reducing it from $212.50 to $186.50.
• M&T Bank recently paid a $1.35 quarterly dividend to shareholders, amounting to an annualized dividend yield of 2.9%.

Natixis Advisors LLC raised its position in M&T Bank Corporation (NYSE:MTB - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 187,440 shares of the financial services provider's stock after buying an additional 11,718 shares during the period. Natixis Advisors LLC owned about 0.11% of M&T Bank worth $33,505,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MTB. Quadrant Capital Group LLC increased its position in shares of M&T Bank by 5.8% during the fourth quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock worth $183,000 after purchasing an additional 53 shares in the last quarter. Marcum Wealth LLC grew its holdings in shares of M&T Bank by 4.9% during the first quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock worth $220,000 after buying an additional 57 shares in the last quarter. Forum Financial Management LP raised its position in shares of M&T Bank by 2.2% in the fourth quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock valued at $540,000 after buying an additional 62 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of M&T Bank by 4.4% in the first quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider's stock valued at $282,000 after buying an additional 67 shares during the last quarter. Finally, Investors Research Corp lifted its stake in shares of M&T Bank by 31.1% in the first quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock worth $53,000 after buying an additional 70 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on MTB. Piper Sandler dropped their price objective on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target on M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. DA Davidson increased their price target on M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Truist Financial lowered their price objective on M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, Robert W. Baird cut their target price on M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $212.88.

Insider Activity

In related news, Director Richard H. Jr. Ledgett sold 1,277 shares of M&T Bank stock in a transaction on Monday, July 21st. The stock was sold at an average price of $197.48, for a total value of $252,181.96. Following the completion of the transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter D'arcy sold 2,461 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total value of $485,579.91. Following the sale, the executive vice president owned 9,319 shares in the company, valued at approximately $1,838,731.89. This trade represents a 20.89% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,438 shares of company stock worth $1,967,346. Corporate insiders own 0.53% of the company's stock.

M&T Bank Stock Performance

NYSE MTB opened at $188.68 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.97. The company has a market cap of $30.29 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.94 and a beta of 0.63. The stock has a 50-day moving average of $190.23 and a two-hundred day moving average of $184.58. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $225.70.

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

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, June 2nd. M&T Bank's dividend payout ratio (DPR) is presently 34.97%.

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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