Raiffeisen Bank International AG Buys New Position in M&T Bank Corporation (NYSE:MTB)

Key Points

• Raiffeisen Bank International AG acquired 3,013 shares in M&T Bank Corporation, valued at around $528,000, indicating growing institutional interest in the bank.
• Wall Street analysts have generally rated M&T Bank positively, with a consensus rating of "Moderate Buy" and a target price averaging $212.88.
• M&T Bank recently declared a quarterly dividend of $1.35 per share, leading to an annualized payout of $5.40 and a dividend yield of 2.9%.

Raiffeisen Bank International AG purchased a new position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,013 shares of the financial services provider's stock, valued at approximately $528,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Franklin Resources Inc. increased its position in shares of M&T Bank by 84.9% in the fourth quarter. Franklin Resources Inc. now owns 39,726 shares of the financial services provider's stock worth $7,469,000 after purchasing an additional 18,245 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in M&T Bank during the fourth quarter worth about $9,051,000. Aviva PLC increased its holdings in M&T Bank by 43.5% in the 4th quarter. Aviva PLC now owns 45,388 shares of the financial services provider's stock valued at $8,533,000 after buying an additional 13,768 shares during the period. Russell Investments Group Ltd. raised its position in shares of M&T Bank by 1.0% in the 4th quarter. Russell Investments Group Ltd. now owns 73,383 shares of the financial services provider's stock valued at $13,803,000 after buying an additional 717 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of M&T Bank by 5.8% during the 4th quarter. Quadrant Capital Group LLC now owns 971 shares of the financial services provider's stock worth $183,000 after acquiring an additional 53 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Trading Down 1.0%

Shares of M&T Bank stock traded down $1.88 during trading on Thursday, hitting $183.62. The company's stock had a trading volume of 852,741 shares, compared to its average volume of 1,151,475. The stock has a market cap of $28.69 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 0.91 and a beta of 0.63. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $225.70. The stock has a 50-day moving average price of $190.67 and a two-hundred day moving average price of $184.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping the consensus estimate of $4.04 by $0.24. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the business earned $3.73 EPS. Equities research analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on MTB. Wall Street Zen raised shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $200.00 price target on shares of M&T Bank in a research note on Monday, May 19th. Citigroup upped their price objective on M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Cowen started coverage on M&T Bank in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 target price for the company in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $212.88.

Insider Activity at M&T Bank

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the sale, the director owned 23,070 shares of the company's stock, valued at approximately $4,233,806.40. This represents a 22.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter D'arcy sold 2,461 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $1,838,731.89. This trade represents a 20.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,438 shares of company stock worth $1,967,346 over the last ninety days. Insiders own 0.53% of the company's stock.

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.