New Hampshire Trust Has $1.89 Million Stock Holdings in M&T Bank Corporation $MTB

New Hampshire Trust trimmed its stake in shares of M&T Bank Corporation (NYSE:MTB) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,727 shares of the financial services provider’s stock after selling 185 shares during the quarter. New Hampshire Trust’s holdings in M&T Bank were worth $1,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTB. Wealth Preservation Advisors LLC bought a new stake in M&T Bank during the 1st quarter worth $25,000. WPG Advisers LLC bought a new stake in M&T Bank during the 1st quarter worth $25,000. Golden State Wealth Management LLC bought a new stake in M&T Bank during the 1st quarter worth $46,000. Family Legacy Financial Solutions LLC acquired a new stake in M&T Bank during the 2nd quarter worth approximately $46,000. Finally, Cullen Frost Bankers Inc. boosted its position in 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 Performance

Shares of M&T Bank stock opened at $185.20 on Friday. The company has a market cap of $28.94 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 0.89 and a beta of 0.62. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $225.70. The business has a 50 day moving average price of $193.97 and a 200-day moving average price of $187.15. The company has a quick ratio of 0.97, a current ratio of 0.91 and a debt-to-equity ratio of 0.49.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 EPS for the quarter. The firm had revenue of $1.54 billion during the quarter. M&T Bank had a return on equity of 10.62% and a net margin of 20.91%. Equities analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, September 2nd. This is an increase from M&T Bank’s previous quarterly dividend of $1.35. M&T Bank’s dividend payout ratio (DPR) is 36.95%.

Analyst Upgrades and Downgrades

MTB has been the topic of several recent research reports. Citigroup lifted their target price on shares of M&T Bank from $200.00 to $212.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. TD Cowen increased their target price on shares of M&T Bank from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Piper Sandler initiated coverage on M&T Bank in a research note on Monday, October 6th. They issued an “overweight” rating and a $225.00 price target on the stock. Evercore ISI lifted their price target on shares of M&T Bank from $222.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Finally, Jefferies Financial Group lifted their price target 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. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $217.76.

Insider Activity

In other news, Director John P. Barnes sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the completion of the sale, the director owned 17,866 shares in the company, valued at $3,569,448.14. This trade represents a 45.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

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.