Lesa Sroufe & Co Has $5.35 Million Stake in M&T Bank Corporation $MTB

Lesa Sroufe & Co grew its position in M&T Bank Corporation (NYSE:MTB) by 15.4% during the 1st quarter, HoldingsChannel reports. The firm owned 25,874 shares of the financial services provider’s stock after purchasing an additional 3,460 shares during the quarter. M&T Bank comprises about 3.6% of Lesa Sroufe & Co’s portfolio, making the stock its 7th largest holding. Lesa Sroufe & Co’s holdings in M&T Bank were worth $5,349,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Triumph Capital Management acquired a new position in shares of M&T Bank in the 3rd quarter valued at $32,000. Elyxium Wealth LLC bought a new stake in shares of M&T Bank in the 4th quarter valued at $33,000. Ameriflex Group Inc. raised its stake in M&T Bank by 82.4% during the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after buying an additional 84 shares during the period. Bank of Jackson Hole Trust raised its stake in M&T Bank by 38.7% during the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock worth $43,000 after buying an additional 60 shares during the period. Finally, Hoese & Co LLP bought a new position in M&T Bank during the fourth quarter worth about $50,000. 84.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MTB shares. Royal Bank Of Canada increased their price target on M&T Bank from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of M&T Bank in a report on Thursday, June 4th. Robert W. Baird boosted their price objective on M&T Bank from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Argus boosted their price objective on M&T Bank from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Finally, Piper Sandler increased their target price on M&T Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $236.00.

M&T Bank Stock Down 0.0%

NYSE:MTB opened at $238.85 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $34.98 billion, a PE ratio of 13.37, a PEG ratio of 1.17 and a beta of 0.57. M&T Bank Corporation has a 52-week low of $174.76 and a 52-week high of $243.57. The stock has a 50-day simple moving average of $220.63 and a 200 day simple moving average of $216.35.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 EPS 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 firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the business posted $3.32 EPS. On average, sell-side analysts expect that M&T Bank Corporation will post 18.8 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 1st were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 1st. M&T Bank’s payout ratio is currently 33.59%.

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

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 3,105 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the completion of the transaction, the executive vice president owned 6,753 shares in the company, valued at approximately $1,462,024.50. This represents a 31.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.44% of the stock is currently owned by corporate 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.