Profund Advisors LLC Increases Stake in M&T Bank Co. (NYSE:MTB)

Profund Advisors LLC raised its stake in shares of M&T Bank Co. (NYSE:MTB – Get Rating) by 5.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,301 shares of the financial services provider’s stock after acquiring an additional 159 shares during the period. Profund Advisors LLC’s holdings in M&T Bank were worth $479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Resources Investment Advisors LLC. lifted its stake in M&T Bank by 5.1% during the 4th quarter. Resources Investment Advisors LLC. now owns 5,921 shares of the financial services provider’s stock valued at $859,000 after acquiring an additional 286 shares during the period. Bank of Montreal Can lifted its stake in M&T Bank by 18.6% during the 4th quarter. Bank of Montreal Can now owns 380,061 shares of the financial services provider’s stock valued at $55,386,000 after acquiring an additional 59,482 shares during the period. Legato Capital Management LLC bought a new position in M&T Bank during the 4th quarter valued at about $1,604,000. AIA Group Ltd lifted its stake in M&T Bank by 254.2% during the 4th quarter. AIA Group Ltd now owns 1,849 shares of the financial services provider’s stock valued at $268,000 after acquiring an additional 1,327 shares during the period. Finally, Kestra Advisory Services LLC lifted its stake in M&T Bank by 23.2% during the 4th quarter. Kestra Advisory Services LLC now owns 12,654 shares of the financial services provider’s stock valued at $1,836,000 after acquiring an additional 2,384 shares during the period. Institutional investors own 84.10% of the company’s stock.

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M&T Bank Trading Down 0.6 %

Shares of MTB opened at $124.09 on Friday. The company has a 50 day simple moving average of $133.57 and a two-hundred day simple moving average of $151.06. M&T Bank Co. has a 1 year low of $110.00 and a 1 year high of $193.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.96. The firm has a market cap of $20.85 billion, a P/E ratio of 9.61, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78.

M&T Bank (NYSE:MTB – Get Rating) last posted its earnings results on Monday, April 17th. The financial services provider reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.98 by $0.03. M&T Bank had a net margin of 23.20% and a return on equity of 11.97%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the firm posted $2.73 earnings per share. On average, equities analysts expect that M&T Bank Co. will post 17.31 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Monday, March 6th were issued a $1.30 dividend. The ex-dividend date was Friday, March 3rd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.20. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.19%. M&T Bank’s dividend payout ratio (DPR) is 40.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MTB shares. UBS Group cut shares of M&T Bank from a “buy” rating to a “neutral” rating in a research note on Monday, April 10th. Wolfe Research cut shares of M&T Bank from an “outperform” rating to a “peer perform” rating in a research note on Thursday, March 23rd. Wedbush upgraded shares of M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research note on Tuesday, January 3rd. DA Davidson lowered their price objective on shares of M&T Bank from $141.00 to $138.00 in a research note on Tuesday, April 18th. Finally, Royal Bank of Canada lowered their price objective on shares of M&T Bank from $190.00 to $183.00 and set an “outperform” rating on the stock in a research note on Friday, March 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $165.10.

M&T Bank Company Profile

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M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.

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