US Bancorp DE Grows Stake in M&T Bank Co. (NYSE:MTB)

US Bancorp DE grew its position in shares of M&T Bank Co. (NYSE:MTB) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,743 shares of the financial services provider’s stock after purchasing an additional 195 shares during the period. US Bancorp DE’s holdings in M&T Bank were worth $1,201,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MTB. Marshall Wace LLP grew its position in shares of M&T Bank by 232.1% during the 2nd quarter. Marshall Wace LLP now owns 676,745 shares of the financial services provider’s stock valued at $102,432,000 after purchasing an additional 472,997 shares in the last quarter. Los Angeles Capital Management LLC grew its position in M&T Bank by 77.0% in the second quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock worth $110,993,000 after acquiring an additional 319,051 shares in the last quarter. Canoe Financial LP grew its position in M&T Bank by 29.4% in the third quarter. Canoe Financial LP now owns 588,302 shares of the financial services provider’s stock worth $103,200,000 after acquiring an additional 133,748 shares in the last quarter. International Assets Investment Management LLC grew its position in M&T Bank by 17,784.1% in the third quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock worth $19,623,000 after acquiring an additional 109,550 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock worth $244,129,000 after acquiring an additional 93,113 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on MTB shares. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research report on Friday, October 4th. Evercore ISI upped their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barclays upped their target price on shares of M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Piper Sandler boosted their price target on shares of M&T Bank from $164.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Finally, DA Davidson boosted their price target on shares of M&T Bank from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank has a consensus rating of “Hold” and an average target price of $198.76.

M&T Bank Stock Performance

Shares of NYSE:MTB opened at $207.95 on Friday. The company has a market cap of $34.70 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 2.70 and a beta of 0.74. The company has a 50-day moving average price of $181.20 and a 200-day moving average price of $163.98. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 12 month low of $115.93 and a 12 month high of $216.84.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Tuesday, September 3rd. M&T Bank’s payout ratio is currently 39.97%.

Insider Buying and Selling

In related news, Vice Chairman Kevin J. Pearson sold 7,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $195.88, for a total value of $1,469,100.00. Following the completion of the transaction, the insider now directly owns 40,502 shares of the company’s stock, valued at $7,933,531.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Robert E. Sadler, Jr. sold 2,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $198.00, for a total value of $396,000.00. Following the completion of the transaction, the director now directly owns 29,796 shares of the company’s stock, valued at $5,899,608. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $195.88, for a total transaction of $1,469,100.00. Following the completion of the sale, the insider now owns 40,502 shares in the company, valued at approximately $7,933,531.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,848 shares of company stock valued at $12,287,757 over the last three months. Corporate insiders own 0.82% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.