Public Sector Pension Investment Board Purchases 1,339 Shares of M&T Bank Corporation $MTB

Key Points

• The Public Sector Pension Investment Board increased its stake in M&T Bank Corporation (NYSE:MTB) by 3.1% during Q1, acquiring an additional 1,339 shares, bringing its total holdings to 44,378 shares valued at approximately $7.93 million.
• M&T Bank's stock price fell 1.9% to $190.29, with a market capitalization of $29.74 billion, and a price-to-earnings ratio of 12.32.
• The bank announced a quarterly dividend of $1.35, representing an annualized yield of 2.8%, with a dividend payout ratio currently at 34.97%.

Public Sector Pension Investment Board grew its holdings in M&T Bank Corporation (NYSE:MTB - Free Report) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,378 shares of the financial services provider's stock after acquiring an additional 1,339 shares during the quarter. Public Sector Pension Investment Board's holdings in M&T Bank were worth $7,933,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Invesco Ltd. lifted its holdings in shares of M&T Bank by 15.2% in the first quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider's stock worth $635,039,000 after acquiring an additional 468,758 shares during the last quarter. Northern Trust Corp increased its position in M&T Bank by 14.7% during the 4th quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider's stock valued at $316,483,000 after purchasing an additional 215,100 shares during the period. First Trust Advisors LP increased its position in M&T Bank by 2.1% during the 4th quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider's stock valued at $301,892,000 after purchasing an additional 33,017 shares during the period. Nuveen Asset Management LLC increased its position in M&T Bank by 22.3% during the 4th quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock valued at $294,662,000 after purchasing an additional 286,049 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of M&T Bank by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,442,381 shares of the financial services provider's stock worth $257,826,000 after buying an additional 30,643 shares during the period. Institutional investors own 84.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTB. Royal Bank Of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of M&T Bank in a report on Monday, May 19th. Morgan Stanley increased their target price on M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Citigroup increased their target price on M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. TD Cowen began coverage on M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 target price on the stock. Finally, Wall Street Zen upgraded M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $212.88.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Peter D'arcy sold 2,461 shares of M&T Bank stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total transaction of $485,579.91. Following the completion of the transaction, the executive vice president owned 9,319 shares of the company's stock, valued at $1,838,731.89. The trade was a 20.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert E. Sadler, Jr. sold 6,700 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $183.52, for a total value of $1,229,584.00. Following the transaction, the director directly owned 23,070 shares of the company's stock, valued at $4,233,806.40. The trade was a 22.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,438 shares of company stock valued at $1,967,346 in the last quarter. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Stock Performance

MTB traded down $0.23 during trading hours on Monday, hitting $189.84. The stock had a trading volume of 314,131 shares, compared to its average volume of 1,260,181. The company's fifty day simple moving average is $191.74 and its 200 day simple moving average is $183.62. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70. The stock has a market cap of $29.67 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.93 and a beta of 0.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results 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 business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. During the same quarter in the previous year, the firm earned $3.73 EPS. Equities analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 2nd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank's payout ratio is presently 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.