Wellington Management Group LLP Cuts Holdings in M&T Bank Corporation $MTB

Wellington Management Group LLP lessened its position in shares of M&T Bank Corporation (NYSE:MTB) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,801,881 shares of the financial services provider’s stock after selling 150,431 shares during the quarter. Wellington Management Group LLP owned about 0.07% of M&T Bank worth $2,332,946,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Bogart Wealth LLC increased its stake in M&T Bank by 233.3% during the first quarter. Bogart Wealth LLC now owns 120 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 84 shares during the last quarter. First Bancorp Inc ME bought a new position in M&T Bank during the second quarter valued at $25,000. Triumph Capital Management bought a new position in M&T Bank during the third quarter valued at $32,000. Elyxium Wealth LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at $33,000. Finally, Bank of Jackson Hole Trust raised its stake in shares of M&T Bank by 38.7% in the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 60 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MTB has been the subject of several analyst reports. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Barclays upped their price target on shares of M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft lowered shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 price objective on the stock. in a research report on Thursday, July 23rd. Evercore set a $260.00 price target on M&T Bank in a research note on Monday, July 6th. Finally, Cantor Fitzgerald boosted their price objective on shares of M&T Bank from $262.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus price target of $253.43.

Insider Activity

In other news, Director Rudina Seseri sold 623 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $241.04, for a total transaction of $150,167.92. Following the completion of the sale, the director owned 3,649 shares in the company, valued at approximately $879,554.96. This represents a 14.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.44% of the company’s stock.

M&T Bank Price Performance

MTB opened at $237.86 on Friday. The business’s 50-day moving average is $244.59 and its two-hundred day moving average is $225.84. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. M&T Bank Corporation has a 1 year low of $174.76 and a 1 year high of $255.95. The firm has a market capitalization of $34.35 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 1.11 and a beta of 0.57.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.69. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same quarter in the prior year, the company posted $4.28 earnings per share. Research analysts anticipate that M&T Bank Corporation will post 19.43 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. M&T Bank’s dividend payout ratio is presently 31.68%.

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.