UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 26,486 Shares of M&T Bank Corporation $MTB

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of M&T Bank Corporation (NYSE:MTB) by 2.6% in the 2nd quarter, Holdings Channel reports. The firm owned 1,060,517 shares of the financial services provider’s stock after acquiring an additional 26,486 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in M&T Bank were worth $252,414,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in shares of M&T Bank by 11.9% in the 1st quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider’s stock valued at $607,000 after purchasing an additional 362 shares during the last quarter. Woodline Partners LP raised its holdings in shares of M&T Bank by 40.7% during the 1st quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock worth $2,506,000 after buying an additional 4,054 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of M&T Bank by 24.6% during the 2nd quarter. Lazard Asset Management LLC now owns 2,900 shares of the financial services provider’s stock worth $562,000 after buying an additional 572 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in M&T Bank in the second quarter valued at about $92,000. Finally, Geneos Wealth Management Inc. boosted its stake in M&T Bank by 4.3% in the second quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock valued at $335,000 after buying an additional 71 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

M&T Bank Stock Performance

Shares of MTB stock opened at $233.68 on Tuesday. The firm has a market capitalization of $33.75 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.10 and a beta of 0.57. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $244.71 and its 200-day moving average price is $225.75. M&T Bank Corporation has a 12 month low of $174.76 and a 12 month high of $255.95.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.69. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same quarter in the prior year, the firm posted $4.28 earnings per share. Equities research analysts forecast that M&T Bank Corporation will post 19.43 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 1st. M&T Bank’s payout ratio is presently 31.68%.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the transaction, the director directly owned 3,649 shares in the company, valued at approximately $879,554.96. This represents a 14.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on M&T Bank from $242.00 to $250.00 and gave the stock a “market perform” rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft downgraded shares of M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 price target on the stock. in a research note on Thursday, July 23rd. Evercore set a $260.00 price target on shares of M&T Bank in a report on Monday, July 6th. Barclays upped their price objective on shares of M&T Bank from $236.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of M&T Bank from $251.50 to $265.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $253.43.

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.