DNB Asset Management AS Boosts Stock Holdings in M&T Bank Corporation $MTB

DNB Asset Management AS raised its holdings in M&T Bank Corporation (NYSE:MTB) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,342 shares of the financial services provider’s stock after purchasing an additional 1,066 shares during the quarter. DNB Asset Management AS owned 0.07% of M&T Bank worth $21,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTB. Crestwood Advisors Group LLC lifted its holdings in shares of M&T Bank by 1.7% in the 2nd quarter. Crestwood Advisors Group LLC now owns 3,237 shares of the financial services provider’s stock valued at $628,000 after buying an additional 54 shares during the period. First Manhattan CO. LLC. raised its position in M&T Bank by 0.6% in the first quarter. First Manhattan CO. LLC. now owns 9,693 shares of the financial services provider’s stock worth $1,733,000 after acquiring an additional 57 shares in the last quarter. Compound Planning Inc. lifted its holdings in M&T Bank by 3.0% in the first quarter. Compound Planning Inc. now owns 2,222 shares of the financial services provider’s stock valued at $397,000 after acquiring an additional 64 shares during the period. Arkadios Wealth Advisors boosted its position in shares of M&T Bank by 5.1% during the 2nd quarter. Arkadios Wealth Advisors now owns 1,312 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 64 shares in the last quarter. Finally, Eastern Bank grew its stake in shares of M&T Bank by 4.0% during the 1st quarter. Eastern Bank now owns 1,930 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

MTB has been the subject of several recent analyst reports. Jefferies Financial Group raised their price objective on shares of M&T Bank from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Piper Sandler began coverage on shares of M&T Bank in a report on Monday, October 6th. They issued an “overweight” rating and a $225.00 target price for the company. UBS Group lifted their price target on shares of M&T Bank from $207.00 to $208.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Truist Financial dropped their price objective on M&T Bank from $227.00 to $217.00 and set a “buy” rating for the company in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.76.

M&T Bank Trading Up 3.2%

Shares of M&T Bank stock opened at $188.67 on Friday. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50 day moving average price of $188.32 and a 200 day moving average price of $189.80. The company has a market capitalization of $29.00 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.87 and a beta of 0.66.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%.The company had revenue of $1.54 billion during the quarter. Sell-side 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 announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.00 annualized dividend and a yield of 3.2%. M&T Bank’s payout ratio is presently 36.95%.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.