Nykredit A S Invests $13.14 Million in M&T Bank Corporation $MTB

Key Points

• Nykredit A/S initiated a $13.14 million position in M&T Bank during the second quarter, purchasing 55,227 shares. Institutional investors collectively own 84.68% of the company.
• M&T Bank exceeded quarterly earnings expectations, reporting $5.35 in EPS versus the $4.66 consensus estimate and revenue of $2.53 billion versus $2.46 billion expected.
• The bank declared a quarterly dividend of $1.50, equivalent to $6.00 annually and a 2.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $255.97.

Nykredit A S bought a new position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 55,227 shares of the financial services provider's stock, valued at approximately $13,145,000.

Other hedge funds have also modified their holdings of the company. Amundi boosted its position in M&T Bank by 7.7% in the 2nd quarter. Amundi now owns 388,916 shares of the financial services provider's stock valued at $92,566,000 after buying an additional 27,795 shares during the last quarter. HighTower Advisors LLC grew its position in shares of M&T Bank by 4.6% during the 2nd quarter. HighTower Advisors LLC now owns 54,108 shares of the financial services provider's stock worth $12,878,000 after buying an additional 2,366 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in M&T Bank in the second quarter valued at approximately $595,000. Alan B Lancz & Associates Inc. bought a new stake in shares of M&T Bank in the 2nd quarter valued at $212,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of M&T Bank in the second quarter worth about $86,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Performance

M&T Bank stock opened at $227.04 on Monday. The business's 50-day moving average price is $244.00 and its two-hundred day moving average price is $226.63. The stock has a market cap of $32.79 billion, a PE ratio of 11.99, a P/E/G ratio of 1.29 and a beta of 0.56. M&T Bank Corporation has a 12-month low of $174.76 and a 12-month high of $255.95. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating analysts' consensus estimates of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the business posted $4.28 earnings per share. As a group, analysts expect that M&T Bank Corporation will post 19.45 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, September 1st. M&T Bank's dividend payout ratio (DPR) is 31.68%.

Insider Activity

In other news, Director Rudina Seseri sold 623 shares of M&T Bank stock in a transaction on Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the transaction, the director owned 3,649 shares in the company, valued at approximately $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MTB. Royal Bank Of Canada raised their price objective on shares of M&T Bank from $230.00 to $255.00 and gave the stock an "outperform" rating in a report on Thursday, July 16th. Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a report on Monday, July 20th. UBS Group lifted their price target on M&T Bank from $252.00 to $255.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Morgan Stanley raised shares of M&T Bank from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $253.00 to $304.00 in a research report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. boosted their price objective on M&T Bank from $251.50 to $265.50 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, M&T Bank currently has a consensus rating of "Hold" and an average price target of $255.97.

M&T Bank Company Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.

The company's offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.

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