SVB Wealth LLC Invests $307,000 in M&T Bank Co. (NYSE:MTB)

SVB Wealth LLC acquired a new position in shares of M&T Bank Co. (NYSE:MTB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,238 shares of the financial services provider’s stock, valued at approximately $307,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MTB. Virtu Financial LLC increased its holdings in shares of M&T Bank by 17,405.3% during the 1st quarter. Virtu Financial LLC now owns 5,273,474 shares of the financial services provider’s stock worth $105,417,000 after purchasing an additional 5,243,349 shares during the period. Spring Creek Capital LLC increased its holdings in shares of M&T Bank by 217.0% during the 1st quarter. Spring Creek Capital LLC now owns 3,339,643 shares of the financial services provider’s stock worth $66,759,000 after purchasing an additional 2,286,251 shares during the period. Norges Bank bought a new position in shares of M&T Bank during the 4th quarter worth about $231,022,000. Goldman Sachs Group Inc. increased its holdings in shares of M&T Bank by 76.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,560,334 shares of the financial services provider’s stock worth $71,171,000 after purchasing an additional 1,538,436 shares during the period. Finally, Morgan Stanley boosted its position in shares of M&T Bank by 71.6% during the 4th quarter. Morgan Stanley now owns 2,986,977 shares of the financial services provider’s stock valued at $433,291,000 after acquiring an additional 1,246,265 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Evercore ISI lifted their target price on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. UBS Group lifted their target price on shares of M&T Bank from $139.00 to $154.00 in a research report on Wednesday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 target price on shares of M&T Bank in a research report on Tuesday, April 16th. Finally, Piper Sandler decreased their target price on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $158.48.

Insider Buying and Selling

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares of the company’s stock, valued at $923,215. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Doris P. Meister sold 3,961 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the transaction, the executive vice president now owns 5,000 shares in the company, valued at $718,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kirk W. Walters sold 28,845 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares of the company’s stock, valued at approximately $923,215. The disclosure for this sale can be found here. Insiders sold a total of 37,119 shares of company stock valued at $5,341,012 over the last ninety days. Insiders own 0.82% of the company’s stock.

M&T Bank Price Performance

Shares of MTB stock opened at $143.38 on Monday. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $148.23. The firm’s 50 day moving average is $139.96 and its 200-day moving average is $133.12. The firm has a market capitalization of $23.89 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 1.20 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the company posted $4.09 earnings per share. Sell-side analysts forecast that M&T Bank Co. will post 13.98 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Friday, March 1st. M&T Bank’s dividend payout ratio (DPR) is 35.16%.

M&T Bank Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.