M&T Bank Corporation $MTB Stake Boosted by Speece Thorson Capital Group Inc.

Speece Thorson Capital Group Inc. grew its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 15.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,090 shares of the financial services provider’s stock after acquiring an additional 12,581 shares during the period. M&T Bank comprises approximately 3.8% of Speece Thorson Capital Group Inc.’s holdings, making the stock its 5th largest position. Speece Thorson Capital Group Inc.’s holdings in M&T Bank were worth $18,446,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of M&T Bank by 33.1% during 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 in the last quarter. Invesco Ltd. boosted its stake in shares of M&T Bank by 15.2% during the 1st quarter. Invesco Ltd. now owns 3,552,666 shares of the financial services provider’s stock worth $635,039,000 after purchasing an additional 468,758 shares during the period. Northern Trust Corp grew its stake in shares of M&T Bank by 2.3% during the first quarter. Northern Trust Corp now owns 1,721,410 shares of the financial services provider’s stock valued at $307,702,000 after buying an additional 38,081 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of M&T Bank by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 1,442,381 shares of the financial services provider’s stock valued at $257,826,000 after acquiring an additional 30,643 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $183.94 on Monday. The company has a market capitalization of $28.27 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 0.87 and a beta of 0.62. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.97 and a current ratio of 0.97. The company’s fifty day moving average price is $192.89 and its 200 day moving average price is $188.26. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70.

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

M&T Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from M&T Bank’s previous quarterly dividend of $1.35. The ex-dividend date was Tuesday, September 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 36.95%.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of recent research reports. TD Cowen increased their price objective on shares of M&T Bank from $235.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Cowen restated a “buy” rating on shares of M&T Bank in a report on Monday, October 20th. Truist Financial decreased their price objective 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. Wells Fargo & Company boosted their target price on shares of M&T Bank from $175.00 to $185.00 and gave the stock an “underweight” rating in a research report on Thursday, July 17th. Finally, UBS Group lifted their price objective on shares of M&T Bank from $207.00 to $208.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $217.76.

Insider Activity at M&T Bank

In other news, Director John P. Barnes sold 15,000 shares of the stock in a transaction that occurred on 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 owned 17,866 shares in the company, valued at $3,569,448.14. This trade represents a 45.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

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.