Citizens Financial Group Inc. RI Has $445,000 Stock Holdings in M&T Bank Corporation (NYSE:MTB)

Citizens Financial Group Inc. RI increased its holdings in M&T Bank Corporation (NYSE:MTB) by 15.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,487 shares of the financial services provider’s stock after buying an additional 338 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in M&T Bank were worth $445,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MTB. GAMMA Investing LLC increased its holdings in shares of M&T Bank by 18,471.2% during the first quarter. GAMMA Investing LLC now owns 705,705 shares of the financial services provider’s stock worth $126,145,000 after buying an additional 701,905 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of M&T Bank by 22.3% during the fourth quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider’s stock worth $294,662,000 after buying an additional 286,049 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of M&T Bank during the fourth quarter worth approximately $48,939,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of M&T Bank during the fourth quarter worth approximately $43,101,000. Finally, Northern Trust Corp increased its holdings in shares of M&T Bank by 14.7% during the fourth quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider’s stock worth $316,483,000 after buying an additional 215,100 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analysts Set New Price Targets

MTB has been the subject of several recent analyst reports. Cowen initiated coverage on shares of M&T Bank in a report on Wednesday, May 14th. They set a “buy” rating for the company. DA Davidson raised their price objective on shares of M&T Bank from $189.00 to $207.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Royal Bank Of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of M&T Bank in a research report on Monday, May 19th. Jefferies Financial Group set a $225.00 price objective on M&T Bank and gave the stock a “buy” rating in a report on Wednesday, May 21st. Finally, Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $212.88.

Insider Transactions at M&T Bank

In other news, Director Richard H. Jr. Ledgett sold 1,277 shares of M&T Bank stock in a transaction on Monday, July 21st. The shares were sold at an average price of $197.48, for a total transaction of $252,181.96. Following the transaction, the director directly owned 4,881 shares of the company’s stock, valued at $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the transaction, the director directly owned 23,070 shares in the company, valued at approximately $4,233,806.40. This represents a 22.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,438 shares of company stock valued at $1,967,346 over the last three months. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Price Performance

MTB opened at $187.22 on Friday. The company has a fifty day moving average price of $190.77 and a two-hundred day moving average price of $184.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.97. M&T Bank Corporation has a 52 week low of $150.75 and a 52 week high of $225.70. The firm has a market capitalization of $29.26 billion, a PE ratio of 12.13, a P/E/G ratio of 0.90 and a beta of 0.63.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.04 by $0.24. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same period last year, the firm posted $3.73 earnings per share. As a group, analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank’s dividend payout ratio (DPR) is currently 34.97%.

M&T Bank Profile

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.