LSV Asset Management Has $67.67 Million Position in M&T Bank Corporation $MTB

LSV Asset Management boosted its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 19.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 342,400 shares of the financial services provider’s stock after acquiring an additional 56,750 shares during the period. LSV Asset Management’s holdings in M&T Bank were worth $67,665,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MTB. Golden State Wealth Management LLC boosted its position in shares of M&T Bank by 2,214.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 162 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 155 shares during the last quarter. Bank of Jackson Hole Trust increased its holdings in M&T Bank by 342.9% in the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 120 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in M&T Bank in the second quarter valued at about $36,000. Westside Investment Management Inc. boosted its holdings in M&T Bank by 61.8% during the third quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after buying an additional 76 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in shares of M&T Bank by 1,109.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 254 shares of the financial services provider’s stock worth $49,000 after buying an additional 233 shares during the period. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Down 1.4%

M&T Bank stock opened at $231.49 on Friday. The company has a 50 day moving average of $213.00 and a 200-day moving average of $198.57. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. M&T Bank Corporation has a twelve month low of $150.75 and a twelve month high of $239.00. The stock has a market capitalization of $35.58 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.03 and a beta of 0.60.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.25. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same period last year, the business posted $3.77 earnings per share. On average, 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 company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 1st were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, December 1st. M&T Bank’s payout ratio is 35.19%.

Analysts Set New Price Targets

MTB has been the topic of a number of analyst reports. Evercore downgraded shares of M&T Bank from an “outperform” rating to a “hold” rating and increased their price target for the company from $210.00 to $225.00 in a research report on Tuesday, January 6th. Bank of America reaffirmed a “neutral” rating and issued a $225.00 target price on shares of M&T Bank in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price target on shares of M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Finally, UBS Group upped their price objective on shares of M&T Bank from $217.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $228.50.

Insider Activity at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 887 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total value of $191,405.73. Following the sale, the insider owned 16,446 shares in the company, valued at approximately $3,548,882.34. The trade was a 5.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director directly owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. This trade represents a 26.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 52,105 shares of company stock valued at $11,488,231 over the last ninety days. Company insiders own 0.53% of the company’s stock.

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.