Several major investors have adjusted their positions in M&T Bank (MTB). Massachusetts Financial Services increased its stake by 4.8%, now holding 1,781,816 shares worth about $269.7 million. Dimensional Fund Advisors raised its stake by 6.1%, owning 1,613,174 shares valued at $244.1 million. Additionally, Bank of New York Mellon increased its holdings by 3.0% and now has 1,513,452 shares worth $229.1 million. Barrow Hanley Mewhinney & Strauss grew their position by 3.2%, holding 1,398,199 shares valued at $211.6 million. Los Angeles Capital Management raised its stake significantly by 77.0%, now owning 733,304 shares worth $111.0 million. Institutional investors and hedge funds own 84.68% of the stock.
Insider Activity
Director Robert E. Sadler, Jr. sold 1,000 shares for $172.23 each on July 23, earning $172,230. He now holds approximately 31,796 shares valued at $5.5 million. Vice Chairman Gary N. Geisel sold 500 shares for $172.50 each on July 24, totaling $86,250, and now owns 16,429 shares valued at $2.8 million. In the last quarter, insiders sold 32,699 shares worth $5.1 million, holding a total of 0.82% of the stock.
M&T Bank Price Performance
M&T Bank shares opened at $179.15 on Thursday, with a market cap of $29.89 billion. The stock has a P/E ratio of 12.11, a 52-week range of $108.53 – $180.63, and averages of $169.18 (50-day) and $156.55 (200-day). Recently, the bank reported $3.73 EPS for the quarter, exceeding expectations. Analysts predict an EPS of 14.23 for the current fiscal year.
M&T Bank Dividend Announcement
The company declared a quarterly dividend of $1.35 per share, paid on September 30 to shareholders on record as of September 3. This equates to an annual dividend of $5.40, offering a yield of 3.01% and a payout ratio of 36.51%.
Analyst Upgrades and Downgrades
M&T Bank received several target price increases: Piper Sandler raised it to $190.00, Wedbush to $210.00, and others have set targets between $185.00 and $220.00. Analysts have a mix of ratings: 2 sell, 5 hold, and 9 buy, with a consensus rating of “Hold” and 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 across the U.S., operating in three segments: Commercial Bank, Retail Bank, and Institutional Services & Wealth Management.
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