M&T Bank Co. (NYSE:MTB) Stock Holdings Increased by Lincoln National Corp

Lincoln National Corp raised its stake in shares of M&T Bank Co. (NYSE:MTB) by 18.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,802 shares of the financial services provider’s stock after buying an additional 917 shares during the period. Lincoln National Corp’s holdings in M&T Bank were worth $795,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in M&T Bank by 15.5% during the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after acquiring an additional 650,796 shares during the period. Smead Capital Management Inc. acquired a new stake in M&T Bank during the 4th quarter worth about $59,418,000. LSV Asset Management lifted its position in shares of M&T Bank by 63.5% in the 3rd quarter. LSV Asset Management now owns 1,108,552 shares of the financial services provider’s stock valued at $140,176,000 after acquiring an additional 430,356 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of M&T Bank by 29.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,726,434 shares of the financial services provider’s stock valued at $218,308,000 after purchasing an additional 393,116 shares in the last quarter. Finally, Senvest Management LLC lifted its stake in M&T Bank by 279.6% in the 3rd quarter. Senvest Management LLC now owns 426,700 shares of the financial services provider’s stock worth $53,956,000 after acquiring an additional 314,300 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Trading Up 0.9 %

MTB opened at $152.66 on Friday. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $152.91. The firm has a 50-day moving average price of $142.53 and a two-hundred day moving average price of $135.27. The stock has a market capitalization of $25.47 billion, a PE ratio of 10.32, a PEG ratio of 1.23 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the prior year, the business earned $4.09 EPS. As a group, equities analysts anticipate that M&T Bank Co. will post 13.92 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.41%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio is 35.16%.

Insiders Place Their Bets

In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of M&T Bank 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 completion of the sale, the executive vice president now owns 3,362 shares of the company’s stock, valued at approximately $464,662.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now directly owns 6,367 shares of the company’s stock, valued at $923,215. The disclosure for this sale can be found here. In the last three months, insiders sold 79,020 shares of company stock valued at $11,533,507. 0.82% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MTB shares. Keefe, Bruyette & Woods lifted their price target on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. Morgan Stanley raised their target price on shares of M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $160.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. Wells Fargo & Company raised their price objective on M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. lifted their price objective on M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $158.48.

M&T Bank Company Profile

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.