Natixis Advisors LLC Buys 27,733 Shares of M&T Bank Corporation $MTB

Natixis Advisors LLC raised its position in shares of M&T Bank Corporation (NYSE:MTB) by 11.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 261,383 shares of the financial services provider’s stock after acquiring an additional 27,733 shares during the period. Natixis Advisors LLC’s holdings in M&T Bank were worth $52,663,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LSV Asset Management grew its stake in shares of M&T Bank by 19.9% in the 3rd quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock worth $67,665,000 after buying an additional 56,750 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of M&T Bank by 120.3% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,925 shares of the financial services provider’s stock worth $3,542,000 after purchasing an additional 9,788 shares during the last quarter. Plato Investment Management Ltd boosted its stake in M&T Bank by 54.3% in the 3rd quarter. Plato Investment Management Ltd now owns 8,251 shares of the financial services provider’s stock worth $1,618,000 after purchasing an additional 2,905 shares in the last quarter. Fisher Asset Management LLC increased its stake in M&T Bank by 64.0% during the 3rd quarter. Fisher Asset Management LLC now owns 36,215 shares of the financial services provider’s stock valued at $7,157,000 after purchasing an additional 14,135 shares in the last quarter. Finally, Delphi Management Inc. MA bought a new stake in M&T Bank during the 4th quarter valued at about $1,524,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

MTB stock opened at $214.17 on Thursday. 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 1 year low of $174.76 and a 1 year high of $239.00. The company has a market cap of $31.36 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 1.10 and a beta of 0.57. The stock’s fifty day moving average price is $213.03 and its 200-day moving average price is $210.55.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.18 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.16. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $3.32 earnings per share. On average, equities analysts forecast that M&T Bank Corporation will post 18.69 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.8%. M&T Bank’s dividend payout ratio is presently 33.59%.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MTB shares. Wall Street Zen cut shares of M&T Bank from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $225.00 price objective on shares of M&T Bank in a report on Thursday, May 21st. Robert W. Baird increased their target price on M&T Bank from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. The Goldman Sachs Group lifted their target price on M&T Bank from $231.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, April 6th. Finally, Piper Sandler boosted their price target on M&T Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Eight research 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, the company currently has an average rating of “Hold” and a consensus target price of $235.32.

Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 3,105 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total value of $672,232.50. Following the transaction, the executive vice president owned 6,753 shares of the company’s stock, valued at approximately $1,462,024.50. This trade represents a 31.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.44% of the stock is owned by company insiders.

M&T Bank 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.