M&T Bank Co. (NYSE:MTB) Shares Purchased by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp increased its stake in shares of M&T Bank Co. (NYSE:MTBFree Report) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,763 shares of the financial services provider’s stock after purchasing an additional 417 shares during the period. Alaska Permanent Fund Corp’s holdings in M&T Bank were worth $2,729,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of M&T Bank during the 3rd quarter worth about $833,000. Stevens Capital Management LP purchased a new stake in M&T Bank during the 4th quarter valued at about $320,000. Matrix Asset Advisors Inc. NY grew its stake in M&T Bank by 15.7% during the 4th quarter. Matrix Asset Advisors Inc. NY now owns 92,537 shares of the financial services provider’s stock valued at $12,685,000 after acquiring an additional 12,590 shares in the last quarter. Smead Capital Management Inc. purchased a new stake in M&T Bank during the 4th quarter valued at about $59,418,000. Finally, Rafferty Asset Management LLC grew its stake in M&T Bank by 72.1% during the 4th quarter. Rafferty Asset Management LLC now owns 239,934 shares of the financial services provider’s stock valued at $32,890,000 after acquiring an additional 100,526 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Trading Up 0.0 %

MTB stock traded up $0.04 on Thursday, hitting $146.86. 254,340 shares of the company were exchanged, compared to its average volume of 1,038,812. M&T Bank Co. has a twelve month low of $108.53 and a twelve month high of $156.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00. The business’s fifty day moving average is $146.94 and its two-hundred day moving average is $141.22. The stock has a market capitalization of $24.50 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 2.88 and a beta of 0.78.

M&T Bank (NYSE:MTBGet Free Report) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. During the same period in the previous year, the company earned $4.09 EPS. As a group, research analysts forecast that M&T Bank Co. will post 14.02 earnings per share for the current year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be paid a $1.35 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 3.68%. M&T Bank’s dividend payout ratio is 36.51%.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now directly owns 3,362 shares in the company, valued at approximately $464,662.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John P. Barnes sold 43,426 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the transaction, the director now owns 35,480 shares in the company, valued at $5,481,660. The disclosure for this sale can be found here. Insiders have sold 97,553 shares of company stock worth $14,724,147 in the last ninety days. 0.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MTB. Jefferies Financial Group upped their price objective on shares of M&T Bank from $151.00 to $160.00 and gave the company a “hold” rating in a research note on Tuesday, June 4th. Evercore ISI increased their price target on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. DA Davidson reissued a “neutral” rating and issued a $159.00 price target on shares of M&T Bank in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. Finally, Bank of America increased their price target on shares of M&T Bank from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $159.79.

Check Out Our Latest Report on M&T Bank

M&T Bank Profile

(Free Report)

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.

Further Reading

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

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