Ibex Wealth Advisors Purchases New Position in M&T Bank Corporation $MTB

Ibex Wealth Advisors acquired a new stake in M&T Bank Corporation (NYSE:MTB) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,871 shares of the financial services provider’s stock, valued at approximately $557,000.

Several other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of M&T Bank by 33.1% in the first quarter. Wellington Management Group LLP now owns 9,894,065 shares of the financial services provider’s stock worth $1,768,564,000 after purchasing an additional 2,460,315 shares during the last quarter. Invesco Ltd. boosted its position in shares of M&T Bank by 15.2% during the first quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider’s stock valued at $635,039,000 after buying an additional 468,758 shares during the last quarter. Northern Trust Corp increased its holdings in M&T Bank by 2.3% in the 1st quarter. Northern Trust Corp now owns 1,721,410 shares of the financial services provider’s stock worth $307,702,000 after buying an additional 38,081 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in M&T Bank by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,611,137 shares of the financial services provider’s stock worth $287,932,000 after buying an additional 12,580 shares in the last quarter. Finally, Nuveen LLC purchased a new position in M&T Bank in the 1st quarter worth about $243,451,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at M&T Bank

In other news, Director John P. Barnes sold 15,000 shares of M&T Bank stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the transaction, the director directly owned 17,866 shares of the company’s stock, valued at $3,569,448.14. The trade was a 45.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MTB. Piper Sandler began coverage on shares of M&T Bank in a report on Monday, October 6th. They set an “overweight” rating and a $225.00 price target on the stock. Weiss Ratings upgraded shares of M&T Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. UBS Group raised their target price on shares of M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Truist Financial cut their target price on shares of M&T Bank from $227.00 to $217.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Finally, Wall Street Zen raised M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.76.

M&T Bank Stock Up 1.3%

Shares of MTB stock opened at $188.23 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $225.70. The stock has a market cap of $28.93 billion, a P/E ratio of 11.59, a P/E/G ratio of 0.87 and a beta of 0.66. The company has a 50 day simple moving average of $190.87 and a two-hundred day simple moving average of $189.18.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, March 9th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter. The firm had revenue of $1.54 billion during the quarter. M&T Bank had a net margin of 20.91% and a return on equity of 10.62%. On average, research analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd were given a $1.50 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 dividend on an annualized basis and a yield of 3.2%. M&T Bank’s dividend payout ratio (DPR) is currently 36.95%.

About M&T Bank

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.