National Pension Service Decreases Position in M&T Bank Corporation $MTB

National Pension Service reduced its stake in shares of M&T Bank Corporation (NYSE:MTB) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 272,367 shares of the financial services provider’s stock after selling 2,853 shares during the quarter. National Pension Service owned 0.19% of M&T Bank worth $64,826,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MTB. LSV Asset Management grew its position in M&T Bank by 14.5% during the 4th quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock worth $78,960,000 after acquiring an additional 49,500 shares during the last quarter. Adams Diversified Equity Fund Inc. lifted its position in M&T Bank by 22.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 119,900 shares of the financial services provider’s stock valued at $24,786,000 after purchasing an additional 22,300 shares during the last quarter. Danske Bank A S purchased a new stake in shares of M&T Bank during the second quarter valued at approximately $34,683,000. Bank of New York Mellon Corp purchased a new stake in shares of M&T Bank during the second quarter valued at approximately $330,978,000. Finally, Allstate Corp boosted its stake in shares of M&T Bank by 99.4% during the fourth quarter. Allstate Corp now owns 11,242 shares of the financial services provider’s stock valued at $2,265,000 after purchasing an additional 5,604 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Activity

In related news, Director Rudina Seseri sold 623 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the transaction, the director owned 3,649 shares in the company, valued at $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.44% of the stock is owned by corporate insiders.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $239.75 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. The company has a market cap of $34.63 billion, a PE ratio of 12.66, a P/E/G ratio of 1.36 and a beta of 0.56. The business has a 50 day moving average of $244.86 and a 200 day moving average of $226.26. M&T Bank Corporation has a 52 week low of $174.76 and a 52 week high of $255.95.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.69. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same quarter in the previous year, the business posted $4.28 earnings per share. As a group, equities research analysts forecast that M&T Bank Corporation will post 19.45 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. Stockholders of record on Tuesday, September 1st will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. M&T Bank’s payout ratio is presently 31.68%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of M&T Bank in a research note on Tuesday, September 1st. Robert W. Baird increased their price target on shares of M&T Bank from $240.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Evercore set a $260.00 price target on shares of M&T Bank in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft cut shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 price objective on the stock. in a research report on Thursday, July 23rd. Finally, UBS Group upped their price objective on shares of M&T Bank from $252.00 to $255.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $255.97.

M&T Bank Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.