PFA Pension Forsikringsaktieselskab Makes New Investment in M&T Bank Corporation $MTB

PFA Pension Forsikringsaktieselskab bought a new position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 86,939 shares of the financial services provider's stock, valued at approximately $17,697,000. PFA Pension Forsikringsaktieselskab owned about 0.06% of M&T Bank at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MTB. Bank of Jackson Hole Trust boosted its holdings in M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 120 shares during the period. Triumph Capital Management bought a new stake in M&T Bank during the third quarter valued at about $32,000. Ameriflex Group Inc. boosted its holdings in M&T Bank by 82.4% during the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 84 shares during the period. Westside Investment Management Inc. boosted its holdings in M&T Bank by 61.8% during the third quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 76 shares during the period. Finally, Hoese & Co LLP bought a new stake in M&T Bank during the fourth quarter valued at about $50,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of M&T Bank from $231.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, April 6th. Cantor Fitzgerald decreased their price target on shares of M&T Bank from $255.00 to $253.00 and set an "overweight" rating for the company in a report on Friday, April 17th. Barclays upped their price target on shares of M&T Bank from $220.00 to $236.00 and gave the company an "equal weight" rating in a report on Monday, January 5th. Royal Bank Of Canada upped their price target on shares of M&T Bank from $220.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, April 16th. Finally, Jefferies Financial Group upped their price target on shares of M&T Bank from $255.00 to $265.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, M&T Bank presently has an average rating of "Hold" and a consensus target price of $235.32.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $216.51 on Monday. The business's 50 day moving average is $212.35 and its 200-day moving average is $206.16. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $32.26 billion, a PE ratio of 12.12, a PEG ratio of 1.10 and a beta of 0.59. M&T Bank Corporation has a 1-year low of $172.33 and a 1-year high of $239.00.

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 the consensus estimate of $4.02 by $0.16. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.The firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same period last year, the business earned $3.32 earnings per share. Sell-side analysts predict that M&T Bank Corporation will post 18.64 earnings per share for the current year.

M&T Bank Dividend Announcement

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

M&T Bank declared that its Board of Directors has approved a share repurchase program on Tuesday, March 31st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 16.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other M&T Bank news, EVP Michael A. Wisler sold 8,237 shares of M&T Bank stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $223.48, for a total transaction of $1,840,804.76. Following the sale, the executive vice president owned 4,643 shares in the company, valued at $1,037,617.64. The trade was a 63.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Barnes sold 21,193 shares of M&T Bank stock in a transaction on Monday, February 9th. The stock was sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the sale, the director owned 15,142 shares in the company, valued at $3,571,240.70. This represents a 58.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,339 shares of company stock worth $7,045,853 over the last 90 days. Corporate insiders own 0.44% of the company's stock.

M&T Bank 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.

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