M&T Bank Corporation $MTB Stock Holdings Increased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. has increased its stake in M&T Bank Corporation by 54.9%, now owning 10,243 shares valued at approximately $1.83 million.
• M&T Bank recently announced a quarterly dividend increase to $1.50 per share, representing an annual yield of 3.0%.
• Research analysts currently rate M&T Bank with a consensus of "Moderate Buy" and an average target price of $212.88.

Northwestern Mutual Wealth Management Co. boosted its stake in shares of M&T Bank Corporation (NYSE:MTB - Free Report) by 54.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,243 shares of the financial services provider's stock after buying an additional 3,632 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in M&T Bank were worth $1,831,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in M&T Bank by 33.1% during the first quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider's stock worth $1,768,564,000 after buying an additional 2,460,315 shares during the period. Invesco Ltd. grew its position in M&T Bank by 15.2% during the first quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider's stock worth $635,039,000 after buying an additional 468,758 shares during the period. Northern Trust Corp grew its position in M&T Bank by 2.3% during the first quarter. Northern Trust Corp now owns 1,721,410 shares of the financial services provider's stock worth $307,702,000 after buying an additional 38,081 shares during the period. Dimensional Fund Advisors LP grew its position in M&T Bank by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,611,137 shares of the financial services provider's stock worth $287,932,000 after buying an additional 12,580 shares during the period. Finally, Nuveen Asset Management LLC grew its position in M&T Bank by 22.3% during the fourth quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock worth $294,662,000 after buying an additional 286,049 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John P. Barnes sold 15,000 shares of M&T Bank stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $199.79, for a total value of $2,996,850.00. Following the sale, the director directly owned 17,866 shares in the company, valued at $3,569,448.14. This trade represents a 45.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of M&T Bank 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 completion of the sale, the director owned 4,881 shares in the company, valued at approximately $963,899.88. This represents a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,438 shares of company stock valued at $4,964,196. 0.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MTB shares. Citigroup increased their price target on shares of M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Jefferies Financial Group increased their price target on shares of M&T Bank from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday. Morgan Stanley increased their price target on shares of M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. TD Cowen started coverage on shares of M&T Bank in a research report on Thursday, May 15th. They issued a "buy" rating and a $230.00 price target on the stock. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $200.00 price target on shares of M&T Bank in a research report on Monday, May 19th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, M&T Bank currently has a consensus rating of "Moderate Buy" and an average target price of $213.63.

M&T Bank Trading Up 1.1%

Shares of MTB stock traded up $2.21 during mid-day trading on Thursday, reaching $200.78. The company's stock had a trading volume of 83,298 shares, compared to its average volume of 1,230,585. The company's 50 day simple moving average is $195.24 and its 200-day simple moving average is $183.72. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $225.70. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $31.38 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the firm posted $3.73 EPS. On average, research analysts predict that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be given a $1.50 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $6.00 annualized dividend and a yield of 3.0%. This is a boost from M&T Bank's previous quarterly dividend of $1.35. M&T Bank's payout ratio is 34.97%.

M&T Bank Company 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.