Ossiam Purchases 4,950 Shares of M&T Bank Co. (NYSE:MTB) (2024)

Ossiam lifted its position in shares of M&T Bank Co. (NYSE:MTB – Free Report) by 92.7% in the 4th quarter, Holdings Channel reports. The fund owned 10,290 shares of the financial services provider’s stock after buying an additional 4,950 shares during the quarter. Ossiam’s holdings in M&T Bank were worth $1,411,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in MTB. Invesco Ltd. boosted its position in M&T Bank by 15.5% during the third quarter. Invesco Ltd. now owns 4,840,950 shares of the financial services provider’s stock worth $612,138,000 after purchasing an additional 650,796 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of M&T Bank by 0.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,730,853 shares of the financial services provider’s stock valued at $237,265,000 after buying an additional 4,419 shares in the last quarter. Norges Bank bought a new position in M&T Bank in the 4th quarter worth approximately $232,322,000. Northern Trust Corp grew its stake in M&T Bank by 3.7% in the 3rd quarter. Northern Trust Corp now owns 1,671,837 shares of the financial services provider’s stock valued at $211,404,000 after buying an additional 59,690 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in M&T Bank by 7.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,451,856 shares of the financial services provider’s stock valued at $199,037,000 after acquiring an additional 100,008 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Activity

In related news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the transaction, the director now directly owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other M&T Bank news, Director Kirk W. Walters sold 16,179 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $148.01, for a total value of $2,394,653.79. Following the sale, the director now owns 6,348 shares of the company’s stock, valued at approximately $939,567.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,398 shares of company stock valued at $18,906,672. 0.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

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A number of research firms have recently commented on MTB. StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Evercore ISI raised their target price on M&T Bank from $146.00 to $157.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods lifted their target price on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. increased their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $159.00 price objective on shares of M&T Bank in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $159.04.

Read Our Latest Stock Analysis on M&T Bank

M&T Bank Stock Performance

NYSE:MTB opened at $143.91 on Tuesday. The company has a market capitalization of $24.01 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 2.87 and a beta of 0.78. The business has a 50 day moving average of $146.23 and a 200 day moving average of $140.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank Co. has a 1-year low of $108.53 and a 1-year high of $156.65.

M&T Bank (NYSE:MTB – Get Free Report) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm posted $4.09 earnings per share. On average, sell-side analysts predict that M&T Bank Co. will post 14.04 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.75%. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, June 3rd. M&T Bank’s dividend payout ratio is presently 36.51%.

M&T Bank Profile

(Free Report)

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.

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