PFA Pension Forsikringsaktieselskab Makes New $17.70 Million Investment in M&T Bank Corporation $MTB

PFA Pension Forsikringsaktieselskab purchased a new position in shares of M&T Bank Corporation (NYSE:MTB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 86,939 shares of the financial services provider’s stock, valued at approximately $17,697,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust lifted its stake in M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares during the period. Triumph Capital Management bought a new position in M&T Bank during the third quarter worth about $32,000. Ameriflex Group Inc. lifted its stake in M&T Bank by 82.4% during the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 84 shares during the period. Westside Investment Management Inc. lifted its stake in M&T Bank by 61.8% during the third quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 76 shares during the period. Finally, Hoese & Co LLP bought a new position in M&T Bank during the fourth quarter worth about $50,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $216.51 on Monday. M&T Bank Corporation has a 1 year low of $172.33 and a 1 year high of $239.00. The firm has a 50 day moving average of $212.35 and a 200-day moving average of $206.16. The company has a current ratio of 0.88, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $32.26 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 1.10 and a beta of 0.59.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.16. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.43 billion. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. During the same quarter last year, the business posted $3.32 earnings per share. As a group, sell-side analysts anticipate that M&T Bank Corporation will post 18.64 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 1st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.8%. M&T Bank’s dividend payout ratio (DPR) is currently 33.59%.

M&T Bank announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 31st that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 16.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of M&T Bank from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. DA Davidson lifted their target price on shares of M&T Bank from $233.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. Jefferies Financial Group lifted their target price on shares of M&T Bank from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. cut their target price on shares of M&T Bank from $231.50 to $227.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Bank of America reiterated a “neutral” rating and issued a $225.00 target price on shares of M&T Bank in a research note on Wednesday, January 7th. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $235.32.

Insider Activity at M&T Bank

In related news, Director Kirk W. Walters sold 909 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $227.37, for a total value of $206,679.33. Following the completion of the sale, the director owned 5,976 shares of the company’s stock, valued at $1,358,763.12. This trade represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John P. Barnes sold 21,193 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $235.85, for a total transaction of $4,998,369.05. Following the completion of the sale, the director directly owned 15,142 shares of the company’s stock, valued at approximately $3,571,240.70. This represents a 58.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,339 shares of company stock valued at $7,045,853 over the last quarter. Corporate insiders own 0.44% of the company’s stock.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.