Several large investors have altered their holdings in M&T Bank (MTB). Massachusetts Financial Services increased its stake by 4.8%, owning 1,781,816 shares valued at approximately $269.7 million after acquiring 81,004 additional shares. Dimensional Fund Advisors raised its stake by 6.1%, now holding 1,613,174 shares worth $244.1 million after buying 93,113 more. Bank of New York Mellon Corp raised its investment by 3.0%, having 1,513,452 shares valued at $229.1 million after purchasing 44,442 shares. Barrow Hanley Mewhinney & Strauss increased its position by 3.2% to own 1,398,199 shares worth $211.6 million after acquiring 43,795 shares. Los Angeles Capital Management notably raised its holding by 77% to 733,304 shares valued at $111.0 million after buying 319,051 shares. Overall, 84.68% of the stock is held by institutional investors and hedge funds.
Insider Activity
Director Robert E. Sadler, Jr. sold 1,000 shares on July 23 for $172.23 each, totaling $172,230. He now holds 31,796 shares valued at $5.48 million. Vice Chairman Gary N. Geisel sold 500 shares for $172.50 each, totaling $86,250, and now holds 16,429 shares worth $2.83 million. Insiders sold 32,699 shares last quarter, valued at $5.1 million, and insiders currently own 0.82% of the stock.
M&T Bank Price Performance
M&T Bank stock opened at $179.15. With a market cap of $29.89 billion, its PE ratio is 12.11 and the 52-week range is $108.53 to $180.63. The most recent earnings report showed $3.73 per share, exceeding expectations. Analysts predict an EPS of 14.23 for the current fiscal year.
M&T Bank Dividend Announcement
M&T Bank recently declared a quarterly dividend of $1.35 per share, paid on September 30, with an annual yield of 3.01% and a payout ratio of 36.51%.
Analyst Upgrades and Downgrades
MTB has seen several rating changes. Piper Sandler raised its target from $164 to $190, maintaining an “overweight” rating. Analysts have mixed views, with two sell ratings, five holds, and nine buys. The consensus rating is “Hold” with an average price target of $185.75.
About M&T Bank
M&T Bank Corporation provides banking services in the U.S. through its Commercial Bank, Retail Bank, and Wealth Management divisions.
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