MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 16,231 Shares of M&T Bank Corporation $MTB

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in M&T Bank Corporation (NYSE:MTB) by 94.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,488 shares of the financial services provider’s stock after purchasing an additional 16,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in M&T Bank were worth $5,985,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wealth Preservation Advisors LLC bought a new stake in M&T Bank in the first quarter worth $25,000. WPG Advisers LLC bought a new stake in M&T Bank in the first quarter worth $25,000. Wood Tarver Financial Group LLC bought a new stake in M&T Bank in the fourth quarter worth $29,000. Grove Bank & Trust increased its position in M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 114 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in M&T Bank in the first quarter worth $46,000. Institutional investors own 84.68% of the company’s stock.

Insider Activity

In other news, Director John P. Barnes sold 15,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the completion of the sale, the director directly owned 17,866 shares of the company’s stock, valued at approximately $3,569,448.14. The trade was a 45.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter D’arcy sold 2,461 shares of the business’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the sale, the executive vice president directly owned 9,319 shares of the company’s stock, valued at $1,838,731.89. This represents a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,738 shares of company stock valued at $3,734,612. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MTB has been the topic of several research reports. DA Davidson boosted their price target on shares of M&T Bank from $189.00 to $207.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. TD Cowen started coverage on shares of M&T Bank in a research report on Thursday, May 15th. They set a “buy” rating and a $230.00 price objective on the stock. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Morgan Stanley boosted their price objective on shares of M&T Bank from $206.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Finally, Wells Fargo & Company boosted their price objective on shares of M&T Bank from $175.00 to $185.00 and gave the company an “underweight” rating in a research report on Thursday, July 17th. Fourteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $214.31.

M&T Bank Stock Down 0.8%

Shares of MTB opened at $198.12 on Thursday. The firm has a market capitalization of $30.96 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.98 and a beta of 0.67. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $225.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average price of $195.64 and a 200-day moving average price of $183.79.

M&T Bank (NYSE:MTB) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.04 by $0.24. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. During the same period in the previous year, the firm earned $3.73 earnings per share. Equities research analysts expect that M&T Bank Corporation will post 16.57 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 Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $1.50 per share. This is an increase from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. M&T Bank’s payout ratio is presently 38.86%.

M&T Bank Profile

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.