Fisher Asset Management LLC Raises Stock Holdings in M&T Bank Corporation $MTB

Fisher Asset Management LLC grew its stake in M&T Bank Corporation (NYSE:MTB) by 8.2% during the 4th quarter, Holdings Channel reports. The fund owned 39,194 shares of the financial services provider’s stock after acquiring an additional 2,979 shares during the period. Fisher Asset Management LLC’s holdings in M&T Bank were worth $7,897,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MTB. Empowered Funds LLC lifted its position in shares of M&T Bank by 11.9% in the first quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider’s stock valued at $607,000 after acquiring an additional 362 shares in the last quarter. Woodline Partners LP lifted its position in shares of M&T Bank by 40.7% in the first quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock valued at $2,506,000 after acquiring an additional 4,054 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of M&T Bank by 24.6% in the second quarter. Lazard Asset Management LLC now owns 2,900 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 572 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of M&T Bank in the second quarter valued at $92,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of M&T Bank by 4.3% in the second quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 71 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

M&T Bank stock opened at $214.95 on Thursday. The stock’s 50-day moving average is $211.39 and its 200-day moving average is $209.58. The company has a market cap of $31.48 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.09 and a beta of 0.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 0.94. M&T Bank Corporation has a 12 month low of $174.76 and a 12 month high of $239.00.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.18 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.16. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.43 billion. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.During the same period last year, the business posted $3.32 EPS. Equities analysts anticipate that M&T Bank Corporation will post 18.69 earnings per share for the current year.

M&T Bank announced that its board has initiated 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

M&T Bank Dividend Announcement

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

Insider Activity at M&T Bank

In other news, EVP Christopher E. Kay sold 3,105 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $216.50, for a total value of $672,232.50. Following the transaction, the executive vice president directly owned 6,753 shares in the company, valued at $1,462,024.50. This trade represents a 31.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MTB has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on M&T Bank from $231.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, April 6th. Argus increased their target price on M&T Bank from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $225.00 target price on shares of M&T Bank in a research report on Thursday, May 21st. Morgan Stanley reduced their target price on M&T Bank from $271.00 to $245.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Finally, DA Davidson increased their target price on M&T Bank from $233.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, M&T Bank presently has a consensus rating of “Hold” and an average price target of $235.32.

M&T Bank Company Profile

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.