Amalgamated Bank Has $5.48 Million Stock Holdings in M&T Bank Co. (NYSE:MTB)

Amalgamated Bank lessened its position in shares of M&T Bank Co. (NYSE:MTBGet Rating) by 6.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,310 shares of the financial services provider’s stock after selling 2,276 shares during the quarter. Amalgamated Bank’s holdings in M&T Bank were worth $5,477,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MTB. Capital World Investors acquired a new position in shares of M&T Bank during the first quarter valued at $982,517,000. BlackRock Inc. lifted its stake in shares of M&T Bank by 8.8% during the first quarter. BlackRock Inc. now owns 11,292,279 shares of the financial services provider’s stock valued at $1,914,040,000 after acquiring an additional 915,914 shares during the period. Wellington Management Group LLP lifted its stake in shares of M&T Bank by 9.9% during the first quarter. Wellington Management Group LLP now owns 8,612,467 shares of the financial services provider’s stock valued at $1,459,815,000 after acquiring an additional 777,422 shares during the period. Invesco Ltd. lifted its stake in shares of M&T Bank by 20.6% during the first quarter. Invesco Ltd. now owns 4,119,471 shares of the financial services provider’s stock valued at $698,252,000 after acquiring an additional 702,716 shares during the period. Finally, Castleview Partners LLC acquired a new position in shares of M&T Bank during the fourth quarter valued at $4,106,000. Institutional investors and hedge funds own 82.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company dropped their price objective on M&T Bank from $195.00 to $175.00 and set an “equal weight” rating for the company in a report on Friday, July 1st. Wolfe Research dropped their price objective on M&T Bank from $214.00 to $187.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. Citigroup upped their price objective on M&T Bank to $200.00 in a report on Friday, July 22nd. StockNews.com downgraded M&T Bank from a “hold” rating to a “sell” rating in a report on Saturday. Finally, JPMorgan Chase & Co. dropped their price objective on M&T Bank from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Friday, July 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, M&T Bank currently has an average rating of “Moderate Buy” and an average target price of $202.64.

M&T Bank Stock Up 2.4 %

NYSE:MTB opened at $187.29 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $33.60 billion, a PE ratio of 16.99, a PEG ratio of 0.81 and a beta of 0.88. M&T Bank Co. has a 52-week low of $131.42 and a 52-week high of $193.42. The stock has a 50-day simple moving average of $178.12 and a 200 day simple moving average of $172.49.

M&T Bank (NYSE:MTBGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $3.10 EPS for the quarter, meeting the consensus estimate of $3.10. M&T Bank had a return on equity of 10.76% and a net margin of 23.21%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the firm posted $3.45 earnings per share. On average, sell-side analysts expect that M&T Bank Co. will post 15.21 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 1st will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $4.80 annualized dividend and a yield of 2.56%. M&T Bank’s dividend payout ratio (DPR) is presently 44.61%.

M&T Bank announced that its board has authorized a stock buyback program on Tuesday, July 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 9.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at M&T Bank

In other news, Director Kirk W. Walters sold 21,116 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $180.00, for a total value of $3,800,880.00. Following the completion of the sale, the director now directly owns 6,134 shares of the company’s stock, valued at $1,104,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Kirk W. Walters sold 21,116 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $180.00, for a total value of $3,800,880.00. Following the completion of the sale, the director now directly owns 6,134 shares of the company’s stock, valued at $1,104,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP D Scott N. Warman sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $188.55, for a total value of $377,100.00. Following the completion of the sale, the executive vice president now directly owns 8,349 shares of the company’s stock, valued at $1,574,203.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,656 shares of company stock valued at $5,604,091. Insiders own 0.73% of the company’s stock.

About M&T Bank

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M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

See Also

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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