Envestnet Asset Management Inc. increased its holdings in shares of M&T Bank Co. (NYSE:MTB – Free Report) by 12.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,423 shares of the financial services provider’s stock after acquiring an additional 13,813 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of M&T Bank worth $14,997,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of 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 worth $2,475,959,000 after purchasing an additional 316,266 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in M&T Bank by 18.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,523,856 shares of the financial services provider’s stock worth $801,292,000 after buying an additional 875,870 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in M&T Bank by 8.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,712,801 shares of the financial services provider’s stock valued at $538,579,000 after buying an additional 295,525 shares in the last quarter. Morgan Stanley increased its stake in shares of M&T Bank by 71.6% in the 4th quarter. Morgan Stanley now owns 2,986,977 shares of the financial services provider’s stock worth $433,291,000 after acquiring an additional 1,246,265 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of M&T Bank during the 4th quarter worth $231,022,000. Hedge funds and other institutional investors own 82.86% of the company’s stock.
M&T Bank Price Performance
Shares of MTB opened at $125.76 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. M&T Bank Co. has a fifty-two week low of $109.36 and a fifty-two week high of $192.56. The company has a market cap of $20.87 billion, a P/E ratio of 7.45, a PEG ratio of 0.94 and a beta of 0.81. The firm’s 50 day moving average price is $131.44 and its 200 day moving average price is $128.31.
M&T Bank Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Thursday, August 31st. M&T Bank’s dividend payout ratio is presently 30.81%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on MTB. JPMorgan Chase & Co. upped their price objective on shares of M&T Bank from $133.00 to $147.00 in a report on Thursday, June 29th. DA Davidson reduced their price target on shares of M&T Bank from $138.00 to $132.00 in a research report on Wednesday, June 14th. Citigroup decreased their price objective on M&T Bank from $150.00 to $145.00 in a report on Monday, June 26th. Morgan Stanley reissued an “overweight” rating and set a $155.00 target price on shares of M&T Bank in a research note on Friday, July 21st. Finally, Wedbush upped their price target on M&T Bank from $149.00 to $156.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and an average target price of $158.91.
View Our Latest Analysis on M&T Bank
Insider Buying and Selling
In other news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction on Friday, August 11th. The shares were sold at an average price of $136.02, for a total transaction of $136,020.00. Following the completion of the sale, the executive vice president now directly owns 7,055 shares of the company’s stock, valued at approximately $959,621.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Doris P. Meister sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $136.02, for a total transaction of $136,020.00. Following the sale, the executive vice president now owns 7,055 shares of the company’s stock, valued at approximately $959,621.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John P. Barnes sold 53,542 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $140.00, for a total value of $7,495,880.00. Following the sale, the director now owns 34,545 shares of the company’s stock, valued at approximately $4,836,300. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,876 shares of company stock worth $7,819,234. Company insiders own 0.97% of the company’s stock.
M&T Bank Profile
M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that offer retail and commercial banking products and services in the United States. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals.
Featured Stories
- Five stocks we like better than M&T Bank
- What is a Secondary Public Offering? What Investors Need to Know
- MarketBeat Week in Review – 8/28 – 9/1
- Why is the Ex-Dividend Date Significant to Investors?
- 2 Stocks That Doubled EPS Estimates and Flashing Buy Signals
- How to Find Cloud Software Company Stocks to Trade and Invest
- Toyota vs Tesla: The Tortoise And The Hare Race Has A New Meaning
Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.
