M&T Bank Corporation $MTB Shares Purchased by Ethic Inc.

Ethic Inc. boosted its position in M&T Bank Corporation (NYSE:MTB) by 20.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,741 shares of the financial services provider’s stock after purchasing an additional 4,432 shares during the quarter. Ethic Inc.’s holdings in M&T Bank were worth $4,988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MTB. GAMMA Investing LLC raised its stake in M&T Bank by 3.9% in the 1st quarter. GAMMA Investing LLC now owns 3,948 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 148 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of M&T Bank by 3.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,250 shares of the financial services provider’s stock valued at $581,000 after acquiring an additional 118 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of M&T Bank by 4.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 22,629 shares of the financial services provider’s stock valued at $4,045,000 after acquiring an additional 936 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of M&T Bank by 5.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 69,828 shares of the financial services provider’s stock worth $12,482,000 after acquiring an additional 3,683 shares during the period. Finally, AssuredPartners Investment Advisors LLC acquired a new stake in shares of M&T Bank in the first quarter worth approximately $238,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Trading Down 0.5%

Shares of MTB stock opened at $181.19 on Friday. The stock has a market cap of $28.31 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 0.87 and a beta of 0.62. The company has a quick ratio of 0.97, a current ratio of 0.91 and a debt-to-equity ratio of 0.49. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $225.70. The firm’s 50 day moving average price is $194.07 and its two-hundred day moving average price is $186.73.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share for the quarter. The firm had revenue of $1.54 billion for the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. On average, analysts anticipate that M&T Bank Corporation will post 16.57 EPS for the current year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.3%. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Tuesday, September 2nd. M&T Bank’s dividend payout ratio is presently 36.95%.

Insider Activity at M&T Bank

In other news, Director John P. Barnes sold 15,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the transaction, the director directly owned 17,866 shares of the company’s stock, valued at approximately $3,569,448.14. The trade was a 45.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

MTB has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of M&T Bank from $200.00 to $212.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Wells Fargo & Company boosted their target price on shares of M&T Bank from $175.00 to $185.00 and gave the company an “underweight” rating in a report on Thursday, July 17th. DA Davidson boosted their target price on shares of M&T Bank from $189.00 to $207.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Weiss Ratings restated a “buy (b-)” rating on shares of M&T Bank in a report on Wednesday, October 8th. Finally, UBS Group boosted their target price on shares of M&T Bank from $207.00 to $208.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, M&T Bank has an average rating of “Moderate Buy” and a consensus price target of $217.76.

M&T Bank Company Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.