Hsbc Holdings PLC Acquires 62,877 Shares of M&T Bank Corporation $MTB

Hsbc Holdings PLC lifted its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 18.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 396,157 shares of the financial services provider’s stock after acquiring an additional 62,877 shares during the quarter. Hsbc Holdings PLC’s holdings in M&T Bank were worth $94,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Empowered Funds LLC grew its stake in shares of M&T Bank by 11.9% in the first quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider’s stock worth $607,000 after acquiring an additional 362 shares during the period. Woodline Partners LP lifted its position in M&T Bank by 40.7% during the first quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock valued at $2,506,000 after purchasing an additional 4,054 shares during the period. Lazard Asset Management LLC boosted its holdings in M&T Bank by 24.6% in the second quarter. Lazard Asset Management LLC now owns 2,900 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 572 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in M&T Bank in the 2nd quarter worth approximately $92,000. Finally, Geneos Wealth Management Inc. grew its position in M&T Bank by 4.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 71 shares during the period. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Up 0.1%

Shares of MTB stock opened at $240.05 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.53. M&T Bank Corporation has a 12 month low of $174.76 and a 12 month high of $255.95. The stock has a market cap of $34.67 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.36 and a beta of 0.56. The company has a 50 day simple moving average of $244.88 and a two-hundred day simple moving average of $225.92.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the company posted $4.28 EPS. On average, research analysts expect that M&T Bank Corporation will post 19.43 earnings per share for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 1st. M&T Bank’s dividend payout ratio (DPR) is currently 31.68%.

Insiders Place Their Bets

In related news, Director Rudina Seseri sold 623 shares of M&T Bank stock in a transaction on Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the transaction, the director directly owned 3,649 shares in the company, valued at approximately $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Evercore set a $260.00 price target on M&T Bank in a report on Monday, July 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of M&T Bank in a report on Wednesday, July 15th. Wells Fargo & Company upped their price objective on M&T Bank from $215.00 to $224.00 and gave the company an “underweight” rating in a research report on Thursday, July 16th. DA Davidson increased their target price on M&T Bank from $263.00 to $266.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of M&T Bank in a research report on Tuesday, September 1st. Seven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $253.43.

M&T Bank Profile

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.