International Assets Investment Management LLC Buys Shares of 85,783 M&T Bank Co. (NYSE:MTB)

International Assets Investment Management LLC acquired a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 85,783 shares of the financial services provider's stock, valued at approximately $11,759,000. International Assets Investment Management LLC owned approximately 0.05% of M&T Bank as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Burns J W & Co. Inc. NY lifted its stake in shares of M&T Bank by 1.3% during the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider's stock worth $827,000 after buying an additional 80 shares during the last quarter. Robinson Value Management Ltd. increased its position in M&T Bank by 0.3% during the third quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider's stock worth $4,241,000 after acquiring an additional 85 shares during the period. Sunbelt Securities Inc. increased its position in M&T Bank by 41.7% during the third quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider's stock worth $43,000 after acquiring an additional 100 shares during the period. CI Investments Inc. increased its position in M&T Bank by 2.9% during the third quarter. CI Investments Inc. now owns 3,722 shares of the financial services provider's stock worth $471,000 after acquiring an additional 104 shares during the period. Finally, Steamboat Capital Partners LLC increased its position in M&T Bank by 1.9% during the third quarter. Steamboat Capital Partners LLC now owns 5,823 shares of the financial services provider's stock worth $736,000 after acquiring an additional 109 shares during the period. Institutional investors own 84.68% of the company's stock.

M&T Bank Trading Up 1.8 %

NYSE:MTB traded up $2.66 during mid-day trading on Monday, hitting $149.24. 876,230 shares of the company's stock were exchanged, compared to its average volume of 1,154,345. The company has a 50 day simple moving average of $141.81 and a 200-day simple moving average of $134.70. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $149.29. The firm has a market capitalization of $24.87 billion, a P/E ratio of 9.91, a PEG ratio of 1.23 and a beta of 0.78.

M&T Bank (NYSE:MTB - Get Free Report) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the business earned $4.09 earnings per share. As a group, research analysts expect that M&T Bank Co. will post 13.92 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Friday, March 1st. M&T Bank's dividend payout ratio is currently 35.16%.

Insider Activity

In other news, Director Kirk W. Walters sold 28,845 shares of the company's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now directly owns 6,367 shares of the company's stock, valued at approximately $923,215. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director John P. Barnes sold 10,000 shares of the business's stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $147.11, for a total transaction of $1,471,100.00. Following the transaction, the director now owns 34,545 shares in the company, valued at approximately $5,081,914.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kirk W. Walters sold 28,845 shares of the business's stock in a transaction on 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 transaction, the director now owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,119 shares of company stock valued at $6,679,812. 0.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler decreased their target price on shares of M&T Bank from $156.00 to $152.00 and set an "overweight" rating on the stock in a report on Friday, January 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $160.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. DA Davidson reissued a "neutral" rating and issued a $159.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. Keefe, Bruyette & Woods raised their target price on shares of M&T Bank from $162.00 to $170.00 and gave the company a "market perform" rating in a report on Tuesday, April 16th. Finally, Wells Fargo & Company raised their target price on shares of M&T Bank from $145.00 to $150.00 and gave the company an "equal weight" rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $158.48.

M&T Bank Company 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.