M&T Bank Co. (NYSE:MTB) Stock Holdings Lifted by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its holdings in M&T Bank Co. (NYSE:MTB – Get Rating) by 1,137.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,430 shares of the financial services provider’s stock after buying an additional 4,072 shares during the quarter. Pacer Advisors Inc.’s holdings in M&T Bank were worth $643,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MTB. Neuberger Berman Group LLC increased its holdings in shares of M&T Bank by 2,516.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 793,087 shares of the financial services provider’s stock worth $139,841,000 after acquiring an additional 762,777 shares during the period. Royal Bank of Canada increased its holdings in shares of M&T Bank by 140.8% in the 1st quarter. Royal Bank of Canada now owns 545,786 shares of the financial services provider’s stock worth $92,511,000 after acquiring an additional 319,116 shares during the period. Select Equity Group L.P. acquired a new stake in shares of M&T Bank in the 1st quarter worth about $53,996,000. Vanguard Group Inc. increased its stake in M&T Bank by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,607,431 shares of the financial services provider’s stock valued at $2,475,959,000 after buying an additional 316,266 shares during the period. Finally, Alliancebernstein L.P. increased its stake in M&T Bank by 40.1% during the 3rd quarter. Alliancebernstein L.P. now owns 973,094 shares of the financial services provider’s stock valued at $171,576,000 after buying an additional 278,450 shares during the period. 84.10% of the stock is currently owned by institutional investors.

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M&T Bank Stock Performance

MTB stock opened at $114.81 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.91 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $19.29 billion, a price-to-earnings ratio of 8.89, a P/E/G ratio of 0.69 and a beta of 0.78. M&T Bank Co. has a 12 month low of $110.00 and a 12 month high of $193.42. The firm has a 50 day moving average of $127.52 and a two-hundred day moving average of $147.34.

M&T Bank (NYSE:MTB – Get Rating) last posted its earnings results on Monday, April 17th. The financial services provider reported $4.01 EPS for the quarter, topping the consensus estimate of $3.98 by $0.03. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.37 billion. M&T Bank had a net margin of 23.20% and a return on equity of 11.97%. During the same period in the previous year, the firm posted $2.73 earnings per share. As a group, equities analysts anticipate that M&T Bank Co. will post 17.33 EPS 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. Shareholders of record on Monday, March 6th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.53%. This is an increase from M&T Bank’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Friday, March 3rd. M&T Bank’s payout ratio is currently 40.28%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. DA Davidson lowered their target price on shares of M&T Bank from $141.00 to $138.00 in a research note on Tuesday, April 18th. Wells Fargo & Company dropped their target price on shares of M&T Bank from $155.00 to $145.00 in a report on Tuesday, April 18th. Bank of America boosted their target price on shares of M&T Bank from $141.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 18th. Argus upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Tuesday, April 18th. Finally, JPMorgan Chase & Co. dropped their target price on shares of M&T Bank from $160.00 to $125.00 in a research report on Thursday, April 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $165.10.

M&T Bank 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.

Further Reading

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