LSV Asset Management Purchases 56,750 Shares of M&T Bank Corporation $MTB

LSV Asset Management boosted its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 19.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,400 shares of the financial services provider’s stock after buying an additional 56,750 shares during the period. LSV Asset Management owned about 0.22% of M&T Bank worth $67,665,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MTB. Empowered Funds LLC boosted its position in shares of M&T Bank by 11.9% during the 1st quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider’s stock valued at $607,000 after acquiring an additional 362 shares in the last quarter. Woodline Partners LP lifted its stake in M&T Bank by 40.7% during the first quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock worth $2,506,000 after purchasing an additional 4,054 shares during the period. Applied Finance Capital Management LLC acquired a new stake in M&T Bank during the second quarter valued at approximately $798,000. Cullen Frost Bankers Inc. grew its stake in shares of M&T Bank by 1,109.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 254 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 233 shares during the period. Finally, Citizens & Northern Corp raised its holdings in shares of M&T Bank by 39.8% in the 2nd quarter. Citizens & Northern Corp now owns 3,891 shares of the financial services provider’s stock worth $755,000 after buying an additional 1,107 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,000 shares of M&T Bank stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $190.06, for a total value of $1,140,360.00. Following the completion of the sale, the director directly owned 17,070 shares of the company’s stock, valued at approximately $3,244,324.20. This trade represents a 26.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher E. Kay sold 5,250 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $191.70, for a total value of $1,006,425.00. Following the sale, the executive vice president owned 5,501 shares of the company’s stock, valued at approximately $1,054,541.70. The trade was a 48.83% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 52,105 shares of company stock worth $11,488,231. Corporate insiders own 0.53% of the company’s stock.

M&T Bank Stock Down 1.4%

Shares of NYSE MTB opened at $231.49 on Friday. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $239.00. The firm’s 50-day simple moving average is $213.00 and its 200 day simple moving average is $198.57. The company has a quick ratio of 0.97, a current ratio of 0.90 and a debt-to-equity ratio of 0.41. The company has a market cap of $35.58 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.03 and a beta of 0.60.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.25. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the company posted $3.77 EPS. On average, research analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $6.00 annualized dividend and a yield of 2.6%. M&T Bank’s dividend payout ratio is currently 35.19%.

Wall Street Analysts Forecast Growth

MTB has been the topic of several recent analyst reports. Robert W. Baird boosted their price target on M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, December 18th. Truist Financial set a $230.00 price objective on M&T Bank in a report on Tuesday, January 20th. Bank of America restated a “neutral” rating and issued a $225.00 target price on shares of M&T Bank in a research note on Wednesday, January 7th. UBS Group increased their target price on shares of M&T Bank from $217.00 to $230.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Finally, Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $228.50.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.