International Assets Investment Management LLC Acquires New Stake in M&T Bank Co. (NYSE:MTB)

International Assets Investment Management LLC purchased a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 85,783 shares of the financial services provider's stock, valued at approximately $11,759,000. International Assets Investment Management LLC owned about 0.05% of M&T Bank at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MTB. Virtu Financial LLC increased its holdings in shares of M&T Bank by 17,405.3% during the 1st quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider's stock valued at $105,417,000 after purchasing an additional 5,243,349 shares in the last quarter. Spring Creek Capital LLC increased its holdings in shares of M&T Bank by 217.0% during the 1st quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider's stock valued at $66,759,000 after purchasing an additional 2,286,251 shares in the last quarter. Norges Bank purchased a new position in shares of M&T Bank during the 4th quarter valued at approximately $231,022,000. Goldman Sachs Group Inc. increased its holdings in shares of M&T Bank by 76.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider's stock valued at $71,171,000 after purchasing an additional 1,538,436 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of M&T Bank by 71.6% during the 4th quarter. Morgan Stanley now owns 2,986,977 shares of the financial services provider's stock valued at $433,291,000 after purchasing an additional 1,246,265 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MTB. DA Davidson reaffirmed a "neutral" rating and set a $159.00 target price on shares of M&T Bank in a report on Wednesday, March 6th. Evercore ISI lifted their price target on shares of M&T Bank from $146.00 to $157.00 and gave the company an "in-line" rating in a research note on Thursday, March 28th. Piper Sandler dropped their price target on shares of M&T Bank from $156.00 to $152.00 and set an "overweight" rating on the stock in a research note on Friday, January 19th. Jefferies Financial Group dropped their price target on shares of M&T Bank from $154.00 to $151.00 and set a "hold" rating on the stock in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft cut shares of M&T Bank from a "buy" rating to a "hold" rating and set a $145.00 price target on the stock. in a research note on Monday, December 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $155.21.

Insider Transactions at M&T Bank

In other news, Director Kirk W. Walters sold 28,845 shares of M&T Bank stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Doris P. Meister sold 1,000 shares of the business's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total value of $132,300.00. Following the sale, the executive vice president now directly owns 7,274 shares in the company, valued at approximately $962,350.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kirk W. Walters sold 28,845 shares of the business's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares in the company, valued at $923,215. The disclosure for this sale can be found here. Insiders have sold a total of 35,481 shares of company stock worth $5,114,624 in the last quarter. Company insiders own 0.82% of the company's stock.

M&T Bank Trading Down 0.5 %

Shares of NYSE MTB traded down $0.62 during trading on Friday, hitting $134.56. 1,432,527 shares of the company were exchanged, compared to its average volume of 1,078,360. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99. The company has a fifty day moving average price of $139.18 and a 200-day moving average price of $132.49. The firm has a market capitalization of $22.42 billion, a PE ratio of 8.53, a P/E/G ratio of 1.25 and a beta of 0.80.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $2.74 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.36). M&T Bank had a return on equity of 11.59% and a net margin of 21.49%. The company had revenue of $3.32 billion for the quarter, compared to analysts' expectations of $2.27 billion. During the same quarter in the prior year, the firm earned $4.57 EPS. As a group, equities research analysts expect that M&T Bank Co. will post 13.84 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were issued a dividend of $1.30 per share. The ex-dividend date was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.86%. M&T Bank's dividend payout ratio is presently 32.95%.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.