National Bank of Canada FI Has $19.48 Million Stake in M&T Bank Co. (NYSE:MTB)

National Bank of Canada FI lifted its position in M&T Bank Co. (NYSE:MTB) by 195.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,773 shares of the financial services provider’s stock after purchasing an additional 83,814 shares during the quarter. National Bank of Canada FI owned 0.08% of M&T Bank worth $19,480,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of M&T Bank by 0.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock worth $237,265,000 after purchasing an additional 4,419 shares during the last quarter. Norges Bank bought a new stake in shares of M&T Bank during the fourth quarter worth $232,322,000. Dimensional Fund Advisors LP grew its holdings in shares of M&T Bank by 7.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,451,856 shares of the financial services provider’s stock worth $199,037,000 after purchasing an additional 100,008 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of M&T Bank by 8.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 546,751 shares of the financial services provider’s stock worth $74,949,000 after purchasing an additional 41,523 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of M&T Bank by 7.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 497,503 shares of the financial services provider’s stock worth $72,357,000 after purchasing an additional 35,692 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 43,426 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total value of $6,709,317.00. Following the sale, the director now owns 35,480 shares in the company, valued at approximately $5,481,660. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John P. Barnes sold 43,426 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $154.50, for a total transaction of $6,709,317.00. Following the sale, the director now owns 35,480 shares in the company, valued at approximately $5,481,660. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John P. Barnes sold 13,360 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $147.00, for a total value of $1,963,920.00. Following the sale, the director now owns 35,480 shares in the company, valued at approximately $5,215,560. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,915 shares of company stock worth $14,497,759. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MTB shares. Royal Bank of Canada raised their price target on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, July 19th. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Bank of America raised their price target on M&T Bank from $160.00 to $188.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. raised their price target on M&T Bank from $180.00 to $183.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Citigroup raised their price target on M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a report on Friday, July 19th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $170.35.

M&T Bank Stock Down 0.3 %

Shares of NYSE:MTB traded down $0.49 during trading on Wednesday, hitting $171.68. 1,281,546 shares of the company’s stock traded hands, compared to its average volume of 1,047,986. M&T Bank Co. has a 52 week low of $108.53 and a 52 week high of $175.00. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The company has a market cap of $28.64 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 4.42 and a beta of 0.77. The company has a 50-day moving average price of $151.51 and a 200-day moving average price of $144.50.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, beating the consensus estimate of $3.50 by $0.23. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same quarter in the previous year, the business posted $5.12 EPS. As a group, research analysts forecast that M&T Bank Co. will post 14.12 EPS for the current fiscal year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were paid a $1.35 dividend. This is a boost from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, June 3rd. This represents a $5.40 annualized dividend and a yield of 3.15%. M&T Bank’s payout ratio is presently 36.51%.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.