Canada Post Corp Registered Pension Plan Increases Position in M&T Bank Corporation $MTB

Canada Post Corp Registered Pension Plan increased its stake in M&T Bank Corporation (NYSE:MTB) by 68.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,330 shares of the financial services provider’s stock after purchasing an additional 3,797 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in M&T Bank were worth $1,880,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Ransom Advisory Ltd increased its holdings in shares of M&T Bank by 2.0% in the 4th quarter. Ransom Advisory Ltd now owns 2,513 shares of the financial services provider’s stock valued at $506,000 after purchasing an additional 50 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of M&T Bank by 3.3% in the 3rd quarter. Wedbush Securities Inc. now owns 2,171 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 70 shares in the last quarter. Plato Investment Management Ltd increased its holdings in shares of M&T Bank by 0.9% in the 4th quarter. Plato Investment Management Ltd now owns 8,322 shares of the financial services provider’s stock valued at $1,685,000 after purchasing an additional 71 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of M&T Bank by 4.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 71 shares in the last quarter. Finally, Westside Investment Management Inc. increased its holdings in shares of M&T Bank by 61.8% in the 3rd quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Activity

In other M&T Bank news, EVP Michael A. Wisler sold 8,237 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $223.48, for a total transaction of $1,840,804.76. Following the sale, the executive vice president directly owned 4,643 shares of the company’s stock, valued at $1,037,617.64. This trade represents a 63.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $672,232.50. Following the sale, the executive vice president directly owned 6,753 shares in the company, valued at $1,462,024.50. This represents a 31.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald cut their price target on shares of M&T Bank from $255.00 to $253.00 and set an “overweight” rating for the company in a report on Friday, April 17th. JPMorgan Chase & Co. cut their price target on shares of M&T Bank from $231.50 to $227.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Jefferies Financial Group increased their price target on shares of M&T Bank from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Royal Bank Of Canada increased their price target on shares of M&T Bank from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Finally, Morgan Stanley cut their price target on shares of M&T Bank from $271.00 to $245.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $235.32.

M&T Bank Stock Performance

NYSE:MTB opened at $205.25 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $210.25 and a two-hundred day moving average price of $207.93. M&T Bank Corporation has a twelve month low of $174.76 and a twelve month high of $239.00. The company has a market capitalization of $30.06 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 1.04 and a beta of 0.59.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.16. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the firm posted $3.32 EPS. As a group, research analysts expect that M&T Bank Corporation will post 18.69 earnings per share for the current fiscal year.

M&T Bank announced that its board has initiated a stock buyback program on Tuesday, March 31st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 16.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, June 1st. M&T Bank’s dividend payout ratio (DPR) is 33.59%.

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.