Danske Bank A S Purchases Shares of 145,720 M&T Bank Corporation $MTB

Danske Bank A S acquired a new position in shares of M&T Bank Corporation (NYSE:MTB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 145,720 shares of the financial services provider’s stock, valued at approximately $34,683,000. Danske Bank A S owned approximately 0.10% of M&T Bank as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC boosted its stake in M&T Bank by 233.3% in the 1st quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 84 shares during the period. Triumph Capital Management acquired a new stake in shares of M&T Bank in the 3rd quarter valued at about $32,000. Elyxium Wealth LLC acquired a new stake in shares of M&T Bank in the 4th quarter valued at about $33,000. Bank of Jackson Hole Trust lifted its holdings in shares of M&T Bank by 38.7% in the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 60 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of M&T Bank during the second quarter worth about $51,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on MTB. Truist Financial lifted their target price on M&T Bank from $230.00 to $268.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. UBS Group raised their price target on shares of M&T Bank from $252.00 to $255.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Evercore set a $260.00 price objective on shares of M&T Bank in a report on Monday, July 6th. Jefferies Financial Group reissued a “buy” rating and issued a $300.00 price objective on shares of M&T Bank in a research report on Wednesday, July 15th. Finally, DA Davidson lifted their price target on shares of M&T Bank from $263.00 to $266.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $253.43.

M&T Bank Trading Down 2.7%

Shares of M&T Bank stock opened at $244.74 on Thursday. The stock has a market cap of $35.35 billion, a P/E ratio of 12.92, a P/E/G ratio of 1.17 and a beta of 0.57. The company has a quick ratio of 0.96, a current 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 business’s 50 day moving average is $242.80 and its 200-day moving average is $225.33.

M&T Bank (NYSE:MTB) last posted its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) 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 firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the firm posted $4.28 earnings per share. Equities research analysts predict that M&T Bank Corporation will post 19.43 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be given a dividend of $1.50 per share. The ex-dividend date is Tuesday, September 1st. This represents a $6.00 annualized dividend and a yield of 2.5%. M&T Bank’s dividend payout ratio (DPR) is presently 31.68%.

M&T Bank Company 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.