Tidal Investments LLC Decreases Stock Holdings in M&T Bank Corporation $MTB

Tidal Investments LLC reduced its position in M&T Bank Corporation (NYSE:MTB) by 17.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,639 shares of the financial services provider’s stock after selling 3,697 shares during the period. Tidal Investments LLC’s holdings in M&T Bank were worth $4,198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System lifted its position in M&T Bank by 23,449.1% during the second quarter. California State Teachers Retirement System now owns 50,491,441 shares of the financial services provider’s stock valued at $12,017,468,000 after acquiring an additional 50,277,032 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in M&T Bank in the second quarter worth $330,978,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of M&T Bank by 2.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,517 shares of the financial services provider’s stock worth $252,414,000 after purchasing an additional 26,486 shares in the last quarter. Davis Asset Management L.P. acquired a new position in shares of M&T Bank during the second quarter worth $97,584,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of M&T Bank by 18.9% during the 2nd quarter. Hsbc Holdings PLC now owns 396,157 shares of the financial services provider’s stock valued at $94,364,000 after purchasing an additional 62,877 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the sale, the director directly owned 3,649 shares of the company’s stock, valued at approximately $879,554.96. This represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.44% of the stock is owned by corporate insiders.

M&T Bank Trading Down 0.9%

Shares of NYSE:MTB opened at $237.60 on Tuesday. M&T Bank Corporation has a 52-week low of $174.76 and a 52-week high of $255.95. The stock has a market cap of $34.31 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.36 and a beta of 0.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $244.81 and a 200-day moving average price of $226.42.

M&T Bank (NYSE:MTB) last issued 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. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the firm earned $4.28 earnings per share. Equities analysts predict that M&T Bank Corporation will post 19.45 EPS for the current year.

M&T Bank Announces Dividend

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

Wall Street Analyst Weigh In

MTB has been the subject of a number of recent analyst reports. Evercore set a $260.00 price objective on M&T Bank in a research report on Monday, July 6th. Morgan Stanley raised M&T Bank from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $253.00 to $304.00 in a research report on Tuesday, September 8th. Cantor Fitzgerald increased their price target on M&T Bank from $262.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Wells Fargo & Company raised their price target on M&T Bank from $215.00 to $224.00 and gave the stock an “underweight” rating in a report on Thursday, July 16th. Finally, DA Davidson boosted their price target on M&T Bank from $263.00 to $266.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, M&T Bank has an average rating of “Hold” and a consensus price target of $255.97.

About M&T Bank

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.