M&T Bank Investor Updates
Investors have been adjusting their holdings in M&T Bank (MTB). Massachusetts Financial Services increased its stake by 4.8%, owning 1,781,816 shares valued at $269.7 million after purchasing 81,004 additional shares. Dimensional Fund Advisors raised its stake by 6.1%, now holding 1,613,174 shares worth $244.1 million with 93,113 extra shares bought. The Bank of New York Mellon bought 44,442 more shares, increasing its total to 1,513,452 shares valued at $229.1 million, a 3.0% jump. Barrow Hanley Mewhinney & Strauss added 43,795 shares, pushing its total to 1,398,199 shares valued at $211.6 million, a 3.2% rise. Notably, Los Angeles Capital Management boosted its holdings by 77.0%, acquiring 319,051 more shares, now owning 733,304 shares worth $111.0 million. Overall, institutional and hedge fund investors hold 84.68% of MTB stock.
Insider Selling Activity
Director Robert E. Sadler, Jr. sold 1,000 shares at $172.23 each on July 23, totaling $172,230. He retains 31,796 shares valued at about $5.5 million. Vice Chairman Gary N. Geisel sold 500 shares at $172.50 on July 24 for $86,250, now holding 16,429 shares worth $2.8 million. Insiders sold 32,699 shares last quarter, with insiders owning 0.82% of the stock.
M&T Bank Stock Performance
M&T Bank’s stock opened at $179.15 on Thursday, with a market cap of $29.89 billion, a P/E ratio of 12.11, and a beta of 0.75. The stocks 52-week range is $108.53 to $180.63. Recently, M&T Bank reported earnings of $3.73 per share for the quarter, exceeding expectations, with revenues of $3.37 billion.
Dividend Announcement
M&T Bank declared a quarterly dividend of $1.35 per share, paid on September 30, with an annualized yield of 3.01% and a payout ratio of 36.51%.
Analyst Ratings
Analysts have been active with M&T Bank. Piper Sandler raised their target price from $164 to $190 with an “overweight” rating. Wedbush increased their target to $210 with an “outperform” rating. Citigroup lifted their target to $195, while Morgan Stanley set it at $220. Currently, analysts rate the stock as a “Hold” with an average price target of $185.75.
About M&T Bank
M&T Bank Corporation is a bank holding company offering retail and commercial banking services in the U.S., operating through segments including Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.
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