LRI Investments LLC Boosts Position in M&T Bank Corporation $MTB

LRI Investments LLC raised its stake in M&T Bank Corporation (NYSE:MTB) by 33.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,250 shares of the financial services provider’s stock after buying an additional 3,807 shares during the period. LRI Investments LLC’s holdings in M&T Bank were worth $3,014,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Marshall Wace LLP lifted its holdings in shares of M&T Bank by 6.2% in the 2nd quarter. Marshall Wace LLP now owns 584,438 shares of the financial services provider’s stock worth $113,375,000 after buying an additional 33,920 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of M&T Bank by 3.1% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 463,669 shares of the financial services provider’s stock worth $89,947,000 after purchasing an additional 13,749 shares during the period. Canoe Financial LP boosted its stake in shares of M&T Bank by 46.8% during the third quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock valued at $85,704,000 after purchasing an additional 138,173 shares in the last quarter. RNC Capital Management LLC increased its holdings in M&T Bank by 0.3% during the second quarter. RNC Capital Management LLC now owns 363,058 shares of the financial services provider’s stock valued at $70,430,000 after buying an additional 1,058 shares during the period. Finally, Cooke & Bieler LP raised its stake in M&T Bank by 1.4% in the third quarter. Cooke & Bieler LP now owns 323,410 shares of the financial services provider’s stock worth $63,912,000 after buying an additional 4,480 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Piper Sandler lifted their price target on M&T Bank from $225.00 to $235.00 in a report on Friday, January 16th. Bank of America reiterated a “neutral” rating and issued a $225.00 target price on shares of M&T Bank in a research note on Wednesday, January 7th. Barclays increased their price target on shares of M&T Bank from $220.00 to $236.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Evercore ISI lowered shares of M&T Bank from an “outperform” rating to a “hold” rating and boosted their price objective for the stock from $210.00 to $225.00 in a research note on Tuesday, January 6th. Finally, Royal Bank Of Canada lifted their price target on shares of M&T Bank from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $224.29.

Insider Activity

In related news, Director John P. Barnes sold 17,866 shares of M&T Bank stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $220.81, for a total value of $3,944,991.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $190.06, for a total value of $1,140,360.00. Following the transaction, the director directly owned 17,070 shares of the company’s stock, valued at $3,244,324.20. The trade was a 26.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,116 shares of company stock worth $6,091,776 over the last 90 days. 0.53% of the stock is currently owned by company insiders.

M&T Bank Trading Down 0.3%

M&T Bank stock opened at $216.87 on Thursday. The firm has a market cap of $33.33 billion, a PE ratio of 12.72, a P/E/G ratio of 0.95 and a beta of 0.59. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $222.18. The company has a current ratio of 0.90, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock’s 50 day simple moving average is $204.09 and its two-hundred day simple moving average is $195.91.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, beating the consensus estimate of $4.47 by $0.25. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same period last year, the company earned $3.77 earnings per share. Analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business 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. This represents a $6.00 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, December 1st. M&T Bank’s dividend payout ratio (DPR) is presently 35.19%.

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.