M&T Bank Co. (NYSE:MTB) Stock Holdings Increased by CVA Family Office LLC

CVA Family Office LLC increased its holdings in M&T Bank Co. (NYSE:MTB – Get Rating) by 35.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 361 shares of the financial services provider’s stock after purchasing an additional 95 shares during the quarter. CVA Family Office LLC’s holdings in M&T Bank were worth $64,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of M&T Bank by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,607,431 shares of the financial services provider’s stock worth $2,475,959,000 after acquiring an additional 316,266 shares in the last quarter. State Street Corp increased its position in shares of M&T Bank by 20.4% in the second quarter. State Street Corp now owns 8,629,986 shares of the financial services provider’s stock worth $1,375,533,000 after acquiring an additional 1,460,870 shares in the last quarter. FMR LLC increased its position in shares of M&T Bank by 0.9% in the second quarter. FMR LLC now owns 8,101,997 shares of the financial services provider’s stock worth $1,291,378,000 after acquiring an additional 70,753 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of M&T Bank by 15.2% in the second quarter. JPMorgan Chase & Co. now owns 5,364,209 shares of the financial services provider’s stock worth $855,000,000 after acquiring an additional 705,857 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of M&T Bank by 90.1% in the second quarter. Wells Fargo & Company MN now owns 3,012,996 shares of the financial services provider’s stock worth $480,241,000 after acquiring an additional 1,428,141 shares in the last quarter. 84.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTB has been the topic of several analyst reports. Keefe, Bruyette & Woods downgraded shares of M&T Bank from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $215.00 to $180.00 in a research report on Tuesday, December 6th. StockNews.com initiated coverage on shares of M&T Bank in a research report on Thursday. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of M&T Bank from $255.00 to $175.00 in a research report on Friday, January 6th. Wells Fargo & Company lowered their price objective on shares of M&T Bank from $175.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 8th. Finally, Odeon Capital Group raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $171.76 price objective on the stock in a research report on Tuesday, January 10th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $182.18.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $127.56 on Friday. The firm has a fifty day simple moving average of $151.13 and a 200-day simple moving average of $162.35. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.17. M&T Bank Co. has a 1-year low of $120.40 and a 1-year high of $193.42. The stock has a market capitalization of $21.44 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.64 and a beta of 0.82.

M&T Bank (NYSE:MTB – Get Rating) last issued its quarterly earnings data on Thursday, January 19th. The financial services provider reported $4.57 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.10. M&T Bank had a net margin of 23.15% and a return on equity of 11.41%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the previous year, the company earned $3.37 earnings per share. On average, sell-side analysts expect that M&T Bank Co. will post 18.09 earnings per share for the current year.

M&T Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Monday, March 6th will be paid a dividend of $1.30 per share. This is a boost from M&T Bank’s previous quarterly dividend of $1.20. This represents a $5.20 annualized dividend and a yield of 4.08%. The ex-dividend date is Friday, March 3rd. M&T Bank’s dividend payout ratio is presently 45.14%.

M&T Bank Company Profile

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M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.