LGT Capital Partners LTD. Raises Position in M&T Bank Co. (NYSE:MTB)

LGT Capital Partners LTD. lifted its stake in M&T Bank Co. (NYSE:MTBGet Rating) by 328.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 375,530 shares of the financial services provider’s stock after buying an additional 287,830 shares during the period. M&T Bank makes up 1.8% of LGT Capital Partners LTD.’s portfolio, making the stock its 23rd biggest position. LGT Capital Partners LTD. owned 0.29% of M&T Bank worth $63,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Commerce Bank boosted its holdings in M&T Bank by 1.2% in the fourth quarter. Commerce Bank now owns 4,979 shares of the financial services provider’s stock valued at $765,000 after purchasing an additional 57 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its holdings in M&T Bank by 2.1% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 2,774 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 58 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in M&T Bank by 1.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,931 shares of the financial services provider’s stock valued at $757,000 after purchasing an additional 62 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in M&T Bank by 1.9% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,376 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 63 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its holdings in M&T Bank by 3.9% in the fourth quarter. Wedbush Securities Inc. now owns 1,859 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 69 shares during the last quarter. 87.61% of the stock is owned by institutional investors.

MTB opened at $164.72 on Thursday. The firm has a market cap of $29.55 billion, a PE ratio of 12.58, a P/E/G ratio of 0.95 and a beta of 0.86. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $169.62 and a 200-day simple moving average of $169.79. M&T Bank Co. has a fifty-two week low of $128.46 and a fifty-two week high of $186.95.

M&T Bank (NYSE:MTBGet Rating) last released its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.47. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. M&T Bank had a return on equity of 11.45% and a net margin of 29.31%. During the same period last year, the company posted $3.41 EPS. On average, equities research analysts anticipate that M&T Bank Co. will post 14.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 1st will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Tuesday, May 31st. M&T Bank’s dividend payout ratio is presently 36.67%.

In other news, EVP Christopher E. Kay sold 2,200 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $178.83, for a total value of $393,426.00. Following the completion of the sale, the executive vice president now owns 5,350 shares of the company’s stock, valued at $956,740.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Kevin J. Pearson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $169.71, for a total value of $848,550.00. Following the completion of the sale, the insider now directly owns 39,008 shares of the company’s stock, valued at approximately $6,620,047.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,725 shares of company stock valued at $1,335,332. 0.73% of the stock is currently owned by insiders.

A number of brokerages recently commented on MTB. Wolfe Research reduced their price target on M&T Bank from $214.00 to $187.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. Robert W. Baird upgraded M&T Bank from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $175.00 to $200.00 in a research note on Friday, June 17th. Morgan Stanley upgraded M&T Bank from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $179.00 to $238.00 in a research note on Thursday, April 21st. Piper Sandler upped their price objective on M&T Bank from $200.00 to $210.00 in a research note on Wednesday, April 20th. Finally, Wedbush upped their price objective on M&T Bank from $187.00 to $212.00 in a research note on Thursday, April 21st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $194.62.

M&T Bank Company Profile (Get Rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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