SG Americas Securities LLC Acquires 46,458 Shares of M&T Bank Corporation $MTB

SG Americas Securities LLC lifted its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 270.4% during the fourth quarter, HoldingsChannel reports. The firm owned 63,638 shares of the financial services provider’s stock after acquiring an additional 46,458 shares during the quarter. SG Americas Securities LLC’s holdings in M&T Bank were worth $12,822,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MTB. Canoe Financial LP grew its position in shares of M&T Bank by 46.8% in the 3rd quarter. Canoe Financial LP now owns 433,679 shares of the financial services provider’s stock valued at $85,704,000 after purchasing an additional 138,173 shares during the period. LSV Asset Management raised its holdings in M&T Bank by 19.9% during the 3rd quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock worth $67,665,000 after buying an additional 56,750 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in M&T Bank by 120.3% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,925 shares of the financial services provider’s stock valued at $3,542,000 after buying an additional 9,788 shares in the last quarter. Plato Investment Management Ltd lifted its stake in M&T Bank by 54.3% in the third quarter. Plato Investment Management Ltd now owns 8,251 shares of the financial services provider’s stock valued at $1,618,000 after buying an additional 2,905 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of M&T Bank by 19.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 86,731 shares of the financial services provider’s stock valued at $17,140,000 after buying an additional 13,889 shares during the period. Institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

MTB has been the subject of several research reports. Truist Financial set a $230.00 price objective on shares of M&T Bank in a research report on Tuesday, January 20th. Robert W. Baird boosted their price objective on shares of M&T Bank from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of M&T Bank in a research note on Monday, December 29th. Piper Sandler increased their target price on M&T Bank from $225.00 to $235.00 in a report on Friday, January 16th. Finally, Keefe, Bruyette & Woods boosted their price target on M&T Bank from $220.00 to $230.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $232.87.

Insider Buying and Selling

In related news, EVP Michael A. Wisler sold 8,237 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $223.48, for a total transaction of $1,840,804.76. Following the transaction, the executive vice president directly owned 4,643 shares in the company, valued at approximately $1,037,617.64. The trade was a 63.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 887 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $215.79, for a total transaction of $191,405.73. Following the sale, the insider directly owned 16,446 shares in the company, valued at $3,548,882.34. This trade represents a 5.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 49,092 shares of company stock worth $11,182,250. 0.44% of the stock is currently owned by company insiders.

M&T Bank Price Performance

NYSE MTB opened at $200.94 on Friday. The firm’s 50 day moving average is $216.96 and its 200-day moving average is $202.58. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $29.94 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.95 and a beta of 0.58. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $239.00.

M&T Bank (NYSE:MTB) last announced its earnings results on Friday, January 16th. The financial services provider reported $4.72 EPS for the quarter, topping the consensus estimate of $4.47 by $0.25. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $2.47 billion. M&T Bank had a net margin of 21.55% and a return on equity of 10.94%. During the same quarter in the prior year, the company posted $3.77 earnings per share. Equities research analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 2nd will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, March 2nd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.0%. M&T Bank’s dividend payout ratio is currently 35.19%.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.