M&T Bank Corporation $MTB Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in shares of M&T Bank Corporation (NYSE:MTB) by 34.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,770 shares of the financial services provider’s stock after purchasing an additional 22,132 shares during the period. SG Americas Securities LLC’s holdings in M&T Bank were worth $17,730,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MTB. Canoe Financial LP raised its holdings in shares of M&T Bank by 50.5% in the fourth quarter. Canoe Financial LP now owns 652,744 shares of the financial services provider’s stock worth $131,515,000 after acquiring an additional 219,065 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new stake in M&T Bank during the 4th quarter worth about $42,817,000. Danske Bank A S acquired a new position in M&T Bank in the 3rd quarter valued at about $29,612,000. Russell Investments Group Ltd. raised its stake in M&T Bank by 94.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 292,839 shares of the financial services provider’s stock valued at $57,879,000 after purchasing an additional 142,593 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich lifted its holdings in M&T Bank by 37.1% in the 4th quarter. Munich Reinsurance Co Stock Corp in Munich now owns 351,076 shares of the financial services provider’s stock valued at $71,462,000 after purchasing an additional 95,025 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of M&T Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. UBS Group set a $235.00 target price on shares of M&T Bank in a research report on Thursday, April 16th. Morgan Stanley lowered their target price on shares of M&T Bank from $271.00 to $245.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. The Goldman Sachs Group boosted their price target on M&T Bank from $231.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, April 6th. Finally, Cantor Fitzgerald reduced their price target on M&T Bank from $255.00 to $253.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Eight research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus target price of $235.58.

M&T Bank Trading Up 1.4%

Shares of MTB stock opened at $236.50 on Friday. The firm has a market cap of $34.63 billion, a P/E ratio of 13.24, a PEG ratio of 1.14 and a beta of 0.57. M&T Bank Corporation has a 1-year low of $174.76 and a 1-year high of $239.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s 50-day simple moving average is $218.13 and its 200-day simple moving average is $214.87.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.16. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the company earned $3.32 earnings per share. As a group, equities analysts forecast that M&T Bank Corporation will post 18.81 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, June 1st. M&T Bank’s dividend payout ratio (DPR) is 33.59%.

M&T Bank announced that its board has initiated a share buyback plan on Tuesday, March 31st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 16.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, EVP Christopher E. Kay sold 3,105 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the completion of the sale, the executive vice president directly owned 6,753 shares of the company’s stock, valued at $1,462,024.50. The trade was a 31.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.44% of the stock is owned by corporate insiders.

M&T Bank Company Profile

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.