M&T Bank Corporation $MTB Shares Acquired by LSV Asset Management

LSV Asset Management lifted its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 14.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 391,900 shares of the financial services provider’s stock after acquiring an additional 49,500 shares during the quarter. LSV Asset Management owned about 0.25% of M&T Bank worth $78,960,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Jackson Hole Trust lifted its holdings in shares of M&T Bank by 342.9% during the 3rd 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 in the last quarter. Triumph Capital Management acquired a new position in shares of M&T Bank during the 3rd quarter valued at $32,000. Elyxium Wealth LLC acquired a new position in shares of M&T Bank during the 4th quarter valued at $33,000. Ameriflex Group Inc. lifted its holdings in shares of M&T Bank by 82.4% during the 3rd 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 in the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in shares of M&T Bank by 61.8% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Performance

M&T Bank stock opened at $213.39 on Friday. M&T Bank Corporation has a 12-month low of $174.76 and a 12-month high of $239.00. The company has a market capitalization of $31.25 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.08 and a beta of 0.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s fifty day moving average price is $210.37 and its 200 day moving average price is $208.72.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.16. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.43 billion. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. During the same quarter in the previous year, the firm earned $3.32 EPS. On average, research analysts forecast that M&T Bank Corporation will post 18.69 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. M&T Bank’s payout ratio is presently 33.59%.

M&T Bank declared that its board has initiated a share repurchase plan on Tuesday, March 31st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 16.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MTB. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $225.00 price target on shares of M&T Bank in a research note on Thursday. The Goldman Sachs Group lifted their price target on shares of M&T Bank from $231.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, April 6th. Piper Sandler lifted their price target on shares of M&T Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Wall Street Zen downgraded shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of M&T Bank from $231.50 to $227.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, M&T Bank has an average rating of “Hold” and an average price target of $235.32.

Insider Activity

In related news, EVP Michael A. Wisler sold 8,237 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president owned 4,643 shares of the company’s stock, valued at $1,037,617.64. This represents a 63.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher E. Kay sold 3,105 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the sale, the executive vice president directly owned 6,753 shares of the company’s stock, valued at approximately $1,462,024.50. This represents a 31.50% decrease in their position. The SEC filing for this sale provides additional information. 0.44% of the stock is currently owned by insiders.

About M&T Bank

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.