Healthcare of Ontario Pension Plan Trust has $8.20M stake in M&T Bank Co. (NYSE:MTB)

VaselineOctober 6, 2024

0 5 minutes read

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in shares of M&T Bank Co. (NYSE:MTB – Free Report) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). ). The institutional investor owned 54,160 shares of the financial services provider’s stock after selling 500 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in M&T Bank were worth $8,198,000 at the end of the most recent reporting period.

Other institutional investors have added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its position in M&T Bank by 4.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock valued at $269,696,000 after acquiring an additional 81,004 shares during the period. Dimensional Fund Advisors LP raised 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 during the period. Bank of New York Mellon Corp grew its position in M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock valued at $229,076,000 after acquiring an additional 44,442 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in M&T Bank by 3.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock valued at $211,631,000 after acquiring an additional 43,795 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in shares of 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 purchasing an additional 319,051 shares during the period. 84.68% of shares are currently owned by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

Several research firms have recently weighed in on MTB. Royal Bank of Canada boosted their price objective on shares of M&T Bank from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Bank of America boosted their price objective on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Evercore ISI upgraded shares of M&T Bank from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $187.00 to $210.00 in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of M&T Bank from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $183.00 to $215.00 in a research report on Tuesday, September 3rd . Finally, StockNews.com lowered shares of M&T Bank from a “hold” rating to a “sell” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $185.75, according to MarketBeat.

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M&T Bank Stock Performance

Shares of MTB stock opened at $178.74 on Friday. The firm has a 50-day moving average of $168.84 and a 200-day moving average of $155.72. The company has a market cap of $29.82 billion, a P/E ratio of 12.09, a P/E/G ratio of 3.55 and a beta of 0.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00, and a quick ratio of 1.00. M&T Bank Co. it has a one year low of $108.53 and a one year high of $180.63.

M&T Bank (NYSE:MTB – Get Your Free Report ) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. In the same quarter last year, the company posted earnings of $5.12 per share. Equities research analysts forecast that M&T Bank Co. will post 14.23 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $1.35 per share. The ex-dividend date was Tuesday, September 3rd. This represents a dividend of $5.40 on an annualized basis and a yield of 3.02%. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

Insider buying and selling

In related news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the sale, the director now owns 44,902 shares in the company, valued at approximately $7,724,491.06. This trade represents a decrease of 0.00 % in the stock holding. The transaction was disclosed in a filing with the SEC, which is accessible via this link. In other news, Director Denis J. Salamone sold 10,000 shares of M&T Bank stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares in the company, valued at $7,724,491.06. This trade represents a decrease of 0.00 % in the stock holding. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, Director Kirk W. Walters sold 2,471 shares of M&T Bank stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.60, for a total transaction of $60,786.60. Following the completion of the transaction, the director now owns 20,414 shares of the company’s stock, valued at $502,184.40. The trade was a 0.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,699 shares of company stock worth $5,115,349. Insiders own 0.82% of the company’s shares.

M&T Bank Company Profile

(Free report)

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