Russell Investments Group Ltd. Boosts Stock Position in M&T Bank Corporation $MTB

Russell Investments Group Ltd. raised its holdings in M&T Bank Corporation (NYSE:MTB) by 94.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 292,839 shares of the financial services provider’s stock after buying an additional 142,593 shares during the period. Russell Investments Group Ltd.’s holdings in M&T Bank were worth $57,879,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTB. Bank of Jackson Hole Trust grew its stake in M&T Bank by 342.9% in the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 120 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of M&T Bank in the second quarter worth $36,000. Ameriflex Group Inc. boosted its position in M&T Bank by 82.4% in the third quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock valued at $37,000 after buying an additional 84 shares during the last quarter. Westside Investment Management Inc. increased its stake in shares of M&T Bank by 61.8% in the third quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 76 shares during the period. Finally, Root Financial Partners LLC acquired a new position in shares of M&T Bank in the 3rd quarter valued at about $61,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Down 2.1%

Shares of NYSE MTB opened at $204.29 on Wednesday. The stock has a market cap of $30.44 billion, a P/E ratio of 11.98, a PEG ratio of 0.91 and a beta of 0.58. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.41. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $239.00. The business’s fifty day simple moving average is $219.26 and its 200-day simple moving average is $202.60.

M&T Bank (NYSE:MTB) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping analysts’ consensus estimates 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 $1.79 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the firm posted $3.77 earnings per share. As a group, equities analysts predict that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, March 2nd. M&T Bank’s dividend payout ratio is presently 35.19%.

Analyst Ratings Changes

Several analysts have commented on MTB shares. Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley boosted their price objective on M&T Bank from $251.00 to $271.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Piper Sandler lifted their price target on shares of M&T Bank from $225.00 to $235.00 in a research report on Friday, January 16th. Keefe, Bruyette & Woods increased their price objective on M&T Bank from $220.00 to $230.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Finally, Bank of America reissued a “neutral” rating and set a $225.00 target price on shares of M&T Bank in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $232.87.

Insider Buying and Selling at M&T Bank

In other news, EVP Michael A. Wisler sold 8,237 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $223.48, for a total value of $1,840,804.76. Following the completion of the sale, the executive vice president directly owned 4,643 shares of the company’s stock, valued at approximately $1,037,617.64. This represents a 63.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 887 shares of the stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total transaction of $191,405.73. Following the sale, the insider owned 16,446 shares of the company’s stock, valued at $3,548,882.34. This trade represents a 5.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 49,092 shares of company stock valued at $11,182,250. 0.53% of the stock is currently owned by insiders.

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.