FDx Advisors Inc. boosted its position in M&T Bank Co. (NYSE:MTB – Free Report) by 9.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,489 shares of the financial services provider’s stock after purchasing an additional 220 shares during the quarter. FDx Advisors Inc.’s holdings in M&T Bank were worth $308,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV grew its holdings in M&T Bank by 501.4% in the 1st quarter. KBC Group NV now owns 86,730 shares of the financial services provider’s stock valued at $10,370,000 after buying an additional 72,308 shares in the last quarter. Algebris UK Ltd grew its holdings in shares of M&T Bank by 74.2% during the 1st quarter. Algebris UK Ltd now owns 216,705 shares of the financial services provider’s stock worth $25,993,000 after purchasing an additional 92,288 shares during the period. Capital Market Strategies LLC purchased a new position in shares of M&T Bank during the 2nd quarter worth $416,000. Marshall Wace LLP grew its holdings in shares of M&T Bank by 26.1% during the 4th quarter. Marshall Wace LLP now owns 350,760 shares of the financial services provider’s stock worth $50,881,000 after purchasing an additional 72,678 shares during the period. Finally, Korea Investment CORP grew its holdings in shares of M&T Bank by 111.7% during the 4th quarter. Korea Investment CORP now owns 36,021 shares of the financial services provider’s stock worth $5,225,000 after purchasing an additional 19,008 shares during the period. 82.86% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at M&T Bank
In other news, Director John P. Barnes sold 53,542 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $140.00, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other M&T Bank news, EVP Doris P. Meister sold 1,000 shares of M&T Bank stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $136.02, for a total transaction of $136,020.00. Following the transaction, the executive vice president now owns 7,055 shares of the company’s stock, valued at $959,621.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John P. Barnes sold 53,542 shares of M&T Bank 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 transaction, the director now directly owns 34,545 shares in the company, valued at approximately $4,836,300. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,876 shares of company stock valued at $7,819,234. Corporate insiders own 0.97% of the company’s stock.
Analyst Ratings Changes
View Our Latest Stock Analysis on M&T Bank
M&T Bank Price Performance
MTB stock opened at $126.45 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $20.98 billion, a P/E ratio of 7.49, a P/E/G ratio of 0.94 and a beta of 0.81. The business’s 50-day moving average is $129.99 and its two-hundred day moving average is $125.21. M&T Bank Co. has a 1 year low of $109.36 and a 1 year high of $192.56.
M&T Bank (NYSE:MTB – Get Free Report) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $5.05 earnings per share for the quarter, topping the consensus estimate of $4.16 by $0.89. M&T Bank had a return on equity of 13.26% and a net margin of 26.30%. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the company earned $3.10 EPS. Analysts anticipate that M&T Bank Co. will post 16.34 earnings per share for the current fiscal year.
M&T Bank Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Thursday, August 31st. M&T Bank’s dividend payout ratio (DPR) is presently 30.81%.
M&T Bank Company 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.
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