Catalyst Funds Management Pty Ltd Has $1.52 Million Position in M&T Bank Corporation $MTB

Catalyst Funds Management Pty Ltd cut its holdings in M&T Bank Corporation (NYSE:MTB) by 39.7% in the second quarter, Holdings Channel.com reports. The fund owned 7,816 shares of the financial services provider’s stock after selling 5,144 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in M&T Bank were worth $1,516,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MTB. Mount Lucas Management LP acquired a new stake in shares of M&T Bank in the 2nd quarter valued at $740,000. Raiffeisen Bank International AG raised its holdings in M&T Bank by 10.6% during the second quarter. Raiffeisen Bank International AG now owns 3,332 shares of the financial services provider’s stock valued at $637,000 after buying an additional 319 shares in the last quarter. SG Americas Securities LLC raised its holdings in M&T Bank by 932.4% during the second quarter. SG Americas Securities LLC now owns 100,169 shares of the financial services provider’s stock valued at $19,432,000 after buying an additional 90,466 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in shares of M&T Bank by 1.9% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 24,586 shares of the financial services provider’s stock worth $4,769,000 after buying an additional 451 shares during the last quarter. Finally, ABC Arbitrage SA bought a new stake in shares of M&T Bank during the 2nd quarter worth about $1,598,000. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Piper Sandler initiated coverage on M&T Bank in a report on Monday, October 6th. They set an “overweight” rating and a $225.00 price objective on the stock. Cowen reaffirmed a “buy” rating on shares of M&T Bank in a research report on Monday, October 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of M&T Bank in a research report on Thursday, November 13th. Jefferies Financial Group upped their price objective on shares of M&T Bank from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Finally, Cantor Fitzgerald started coverage on shares of M&T Bank in a research report on Wednesday, September 10th. They set an “overweight” rating and a $228.00 target price for the company. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.76.

M&T Bank Trading Up 0.3%

Shares of M&T Bank stock opened at $182.57 on Thursday. The company has a market cap of $28.06 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 0.87 and a beta of 0.66. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70. The company’s fifty day simple moving average is $188.83 and its 200-day simple moving average is $189.76. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49.

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

M&T Bank Dividend Announcement

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 given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $6.00 dividend on an annualized basis and a yield of 3.3%. M&T Bank’s dividend payout ratio (DPR) is 36.95%.

Insider Transactions at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $199.79, for a total value of $2,996,850.00. Following the completion of the transaction, the director owned 17,866 shares of the company’s stock, valued at $3,569,448.14. This represents a 45.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by corporate insiders.

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.