National Pension Service Has $39.18 Million Position in M&T Bank Co. (NYSE:MTB)

National Pension Service grew its stake in shares of M&T Bank Co. (NYSE:MTB – Get Rating) by 23.2% in the third quarter, Holdings Channel reports. The institutional investor owned 224,105 shares of the financial services provider’s stock after purchasing an additional 42,250 shares during the period. National Pension Service’s holdings in M&T Bank were worth $39,183,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of M&T Bank by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,607,431 shares of the financial services provider’s stock valued at $2,475,959,000 after buying an additional 316,266 shares during the last quarter. State Street Corp increased its stake in 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 valued at $1,375,533,000 after acquiring an additional 1,460,870 shares during the period. FMR LLC increased its stake in 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 valued at $1,291,378,000 after acquiring an additional 70,753 shares during the period. JPMorgan Chase & Co. increased its stake in 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 valued at $855,000,000 after acquiring an additional 705,857 shares during the period. Finally, Wells Fargo & Company MN increased its stake in 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 valued at $480,241,000 after acquiring an additional 1,428,141 shares during the period. Institutional investors and hedge funds own 84.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of M&T Bank from $153.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, January 23rd. Morgan Stanley lowered their target price on shares of M&T Bank from $225.00 to $212.00 and set an “overweight” rating on the stock in a research note on Monday, January 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of M&T Bank from $255.00 to $175.00 in a research note on Friday, January 6th. Wedbush raised shares of M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research note on Tuesday, January 3rd. 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 note on Tuesday, January 10th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $182.18.

M&T Bank Price Performance

Shares of MTB stock opened at $127.56 on Friday. M&T Bank Co. has a 1 year low of $120.40 and a 1 year high of $193.42. The firm’s 50 day moving average is $151.13 and its 200-day moving average is $162.35. The firm 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. 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 (NYSE:MTB – Get Rating) last announced its earnings results on Thursday, January 19th. The financial services provider reported $4.57 earnings per share (EPS) 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 company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the business earned $3.37 earnings per share. Sell-side analysts forecast that M&T Bank Co. will post 18.09 EPS for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Monday, March 6th will be issued a $1.30 dividend. This is a positive change 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 of this dividend is Friday, March 3rd. M&T Bank’s dividend payout ratio is currently 45.14%.

About M&T Bank

(Get Rating)

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.