BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Stake in M&T Bank Co. (NYSE:MTB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 37.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,905 shares of the financial services provider’s stock after buying an additional 6,574 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in M&T Bank were worth $3,618,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MTB. General Partner Inc. bought a new position in shares of M&T Bank during the 1st quarter valued at approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in M&T Bank during the first quarter valued at $30,000. Principal Securities Inc. bought a new position in M&T Bank during the fourth quarter valued at $34,000. Oakworth Capital Inc. purchased a new position in shares of M&T Bank in the 2nd quarter worth $35,000. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in shares of M&T Bank by 677.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 412 shares of the financial services provider’s stock worth $57,000 after buying an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other news, Director Kirk W. Walters sold 7,464 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $173.97, for a total value of $1,298,512.08. Following the completion of the sale, the director now owns 15,045 shares of the company’s stock, valued at approximately $2,617,378.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kirk W. Walters sold 7,464 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $173.97, for a total value of $1,298,512.08. Following the sale, the director now owns 15,045 shares of the company’s stock, valued at $2,617,378.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,699 shares of company stock valued at $3,395,049. Company insiders own 0.82% of the company’s stock.

M&T Bank Stock Performance

M&T Bank stock opened at $172.11 on Friday. M&T Bank Co. has a fifty-two week low of $108.53 and a fifty-two week high of $176.44. The company has a market capitalization of $28.72 billion, a PE ratio of 11.64, a P/E/G ratio of 3.34 and a beta of 0.77. The company has a 50 day moving average price of $161.18 and a 200-day moving average price of $149.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 0.94.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. The business had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. During the same period in the prior year, the business earned $5.12 EPS. As a group, equities analysts forecast that M&T Bank Co. will post 14.24 earnings per share for the current year.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s payout ratio is 36.51%.

Wall Street Analyst Weigh In

MTB has been the subject of several recent research reports. Citigroup lifted their price target on M&T Bank from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada boosted their target price on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Morgan Stanley raised their price target on M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their price objective on shares of M&T Bank from $180.00 to $183.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group raised their target price on shares of M&T Bank from $160.00 to $161.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $173.85.

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.