Huntington National Bank Has $73.51 Million Stock Holdings in M&T Bank Corporation $MTB

Huntington National Bank lifted its holdings in M&T Bank Corporation (NYSE:MTB) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 364,865 shares of the financial services provider’s stock after buying an additional 3,215 shares during the period. Huntington National Bank’s holdings in M&T Bank were worth $73,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MTB. LSV Asset Management raised its holdings in shares of M&T Bank by 19.9% during the third quarter. LSV Asset Management now owns 342,400 shares of the financial services provider’s stock worth $67,665,000 after acquiring an additional 56,750 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of M&T Bank by 120.3% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 17,925 shares of the financial services provider’s stock worth $3,542,000 after acquiring an additional 9,788 shares in the last quarter. Plato Investment Management Ltd raised its holdings in shares of M&T Bank by 54.3% during the third quarter. Plato Investment Management Ltd now owns 8,251 shares of the financial services provider’s stock worth $1,618,000 after acquiring an additional 2,905 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of M&T Bank by 19.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 86,731 shares of the financial services provider’s stock worth $17,140,000 after acquiring an additional 13,889 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of M&T Bank by 64.0% during the third quarter. Fisher Asset Management LLC now owns 36,215 shares of the financial services provider’s stock worth $7,157,000 after acquiring an additional 14,135 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Price Performance

NYSE MTB opened at $214.95 on Thursday. M&T Bank Corporation has a fifty-two week low of $174.76 and a fifty-two week high of $239.00. The stock’s 50-day moving average is $211.39 and its two-hundred day moving average is $209.58. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $31.48 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.09 and a beta of 0.59.

M&T Bank (NYSE:MTB) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.16. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the company earned $3.32 earnings per share. On average, analysts anticipate that M&T Bank Corporation will post 18.69 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, June 1st. M&T Bank’s dividend payout ratio (DPR) is 33.59%.

M&T Bank declared that its board has approved a share repurchase program on Tuesday, March 31st that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 16.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MTB. DA Davidson increased their price objective on M&T Bank from $233.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Jefferies Financial Group increased their price objective on M&T Bank from $255.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Argus increased their price objective on M&T Bank from $230.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, April 17th. The Goldman Sachs Group increased their price objective on M&T Bank from $231.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, April 6th. Finally, Robert W. Baird raised their target price on M&T Bank from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, M&T Bank has an average rating of “Hold” and an average price target of $235.32.

Insiders Place Their Bets

In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $672,232.50. Following the transaction, the executive vice president directly owned 6,753 shares in the company, valued at $1,462,024.50. This trade represents a 31.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.44% of the stock is currently owned by company insiders.

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.