NEOS Investment Management LLC Has $5.86 Million Stock Position in M&T Bank Corporation $MTB

NEOS Investment Management LLC increased its holdings in M&T Bank Corporation (NYSE:MTB) by 13.0% in the 2nd quarter, Holdings Channel reports. The fund owned 24,616 shares of the financial services provider’s stock after purchasing an additional 2,827 shares during the period. NEOS Investment Management LLC’s holdings in M&T Bank were worth $5,859,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in M&T Bank by 3.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,416,224 shares of the financial services provider’s stock valued at $285,341,000 after acquiring an additional 49,336 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of M&T Bank by 2.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,517 shares of the financial services provider’s stock valued at $252,414,000 after purchasing an additional 26,486 shares during the period. Barclays PLC lifted its position in shares of M&T Bank by 3.9% in the fourth quarter. Barclays PLC now owns 530,305 shares of the financial services provider’s stock worth $106,846,000 after purchasing an additional 20,120 shares in the last quarter. Davis Asset Management L.P. purchased a new stake in shares of M&T Bank in the second quarter worth approximately $97,584,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of M&T Bank by 35.4% during the fourth quarter. Russell Investments Group Ltd. now owns 396,531 shares of the financial services provider’s stock worth $79,954,000 after purchasing an additional 103,692 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other M&T Bank news, Director Rudina Seseri sold 623 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the completion of the transaction, the director owned 3,649 shares of the company’s stock, valued at $879,554.96. The trade was a 14.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.44% of the stock is currently owned by corporate insiders.

M&T Bank Trading Up 0.1%

Shares of MTB stock opened at $240.05 on Monday. M&T Bank Corporation has a 12 month low of $174.76 and a 12 month high of $255.95. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $244.88 and its two-hundred day moving average is $225.92. The company has a market cap of $34.67 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.36 and a beta of 0.56.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the company earned $4.28 earnings per share. Equities analysts predict that M&T Bank Corporation will post 19.43 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, September 1st. M&T Bank’s dividend payout ratio (DPR) is 31.68%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of M&T Bank in a research report on Tuesday, September 1st. Truist Financial increased their target price on shares of M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald lifted their target price on shares of M&T Bank from $262.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. DA Davidson boosted their price target on shares of M&T Bank from $263.00 to $266.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company upped their price target on shares of M&T Bank from $215.00 to $224.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, M&T Bank has an average rating of “Hold” and an average price target of $253.43.

M&T Bank Profile

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.