Mizuho Securities USA LLC Lowers Stock Holdings in M&T Bank Corporation (NYSE:MTB)

Mizuho Securities USA LLC reduced its position in M&T Bank Corporation (NYSE:MTB) by 15.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,285 shares of the financial services provider’s stock after selling 2,441 shares during the period. Mizuho Securities USA LLC’s holdings in M&T Bank were worth $2,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of M&T Bank by 14.7% in the 4th quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider’s stock valued at $316,483,000 after purchasing an additional 215,100 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of M&T Bank by 2.1% during the 4th quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider’s stock valued at $301,892,000 after acquiring an additional 33,017 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of M&T Bank by 22.3% during the 4th quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider’s stock valued at $294,662,000 after acquiring an additional 286,049 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of M&T Bank by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,442,381 shares of the financial services provider’s stock valued at $257,826,000 after acquiring an additional 30,643 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of M&T Bank by 16.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,088,949 shares of the financial services provider’s stock valued at $204,733,000 after acquiring an additional 155,374 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Price Performance

MTB opened at $187.22 on Monday. The company has a 50-day moving average of $190.77 and a 200-day moving average of $183.95. The company has a market capitalization of $29.26 billion, a P/E ratio of 12.13, a PEG ratio of 0.92 and a beta of 0.63. 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 0.47, a quick ratio of 0.97 and a current ratio of 0.97.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the firm earned $3.73 EPS. Equities analysts expect that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank’s dividend payout ratio is currently 34.97%.

Analyst Ratings Changes

MTB has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of M&T Bank from $206.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, June 20th. Truist Financial reduced their target price on shares of M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company lifted their target price on shares of M&T Bank from $175.00 to $185.00 and gave the company an “underweight” rating in a report on Thursday, July 17th. Cowen initiated coverage on shares of M&T Bank in a report on Wednesday, May 14th. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $200.00 target price on shares of M&T Bank in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.88.

Insider Activity at M&T Bank

In related news, Director Richard H. Jr. Ledgett sold 1,277 shares of the business’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $197.48, for a total transaction of $252,181.96. Following the completion of the sale, the director owned 4,881 shares of the company’s stock, valued at $963,899.88. This represents a 20.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter D’arcy sold 2,461 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the sale, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $1,838,731.89. This represents a 20.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,438 shares of company stock valued at $1,967,346 in the last quarter. Insiders own 0.53% of the company’s stock.

About M&T Bank

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.