According to the Great West Life Assurance Company of Canada’s most recent Form 13F filing with the Securities and Exchange Commission, the company made a new investment in M&T Bank Company (NYSE: MTB) during the third quarter of this year. The institutional investor purchased 127,711 shares of the company’s stock at approximately $22,505,000. Great West Life Assurance Company had an ownership stake in M&T Bank equal to approximately 0.07% when the most recent reporting period closed.
Recent events have resulted in institutional investors and other hedge funds reevaluating the positions they had previously held in the company and making appropriate adjustments. The value of Vanguard Group Inc.’s holdings in M&T Bank increased by 2.2% during the first three months of 2018. Vanguard Group Inc. now holds 14,607,431 shares of the company’s stock following purchasing 316,266 additional shares during the most recent fiscal quarter. Vanguard Group Inc. is a provider of financial services. The value of these shares on the market as of right now is $2,475,959,000. The State Street Corporation increased its ownership stake in M&T Bank by 20.4% during the second quarter of the fiscal year. State Street Corporation now has an ownership stake in the stock of the financial services provider that has a value that is equivalent to $1,375,533,000 as a result of the company’s purchase of an additional 1,460,870 shares during the period in question. During the second quarter, FMR LLC achieved a 0.9% increase in the proportion of M&T Bank stock it owned. After making an additional purchase of shares throughout the period, FMR LLC now has 8,101,997 stock held by the financial services provider. Based on an estimate of its current market value, these shares are worth approximately $1,291,378,000. JPMorgan Chase & Co. increased the amount of M&T Bank stock owned by 15.2% during the second quarter of the fiscal year. After making an additional purchase of 705,857 shares during the period in question, JPMorgan Chase & Co. now has a total of 5,364,209 shares of stock in the business that provides financial services. There is a value of $855,000,000 attached to these shares.
Last but not least, during the second quarter, Wells Fargo & Company MN increased the percentage of M&T Bank stock owned by 90.1%. This is certainly not the least important thing that happened during this time. Following the acquisition of a further 1,428,141 shares throughout the period above, Wells Fargo & Company MN now holds a total of 3,012,996 shares of the stock held by the financial services provider, which have an estimated market value of $480,241,000. To the tune of 84.10 percent of the company’s shares, hedge funds and various other types of institutional investors are the owners of those shares.
On Tuesday, the NYSE MTB opened for trading for $149.55, which remained unchanged throughout the day. The company has a price-to-earnings ratio of 14.11, a price-to-earnings-to-growth ratio of 0.84, and a beta coefficient of 0.83. Its market capitalization is $25.81 billion, and its price-to-earnings-to-growth ratio is 0.84. M&T Bank Company reaches its high and low for the year at the same price point: $193.42. The current, quick, and debt-to-equity ratios all equal 0.15, whereas the current and quick ratios both equal 0.96. The straightforward moving average for the past 50 trading days of the company is $155.60, and the straightforward moving average for the past 200 trading days is $168.79.
The most recent quarterly results report for M&T Bank, traded on the NYSE under the ticker symbol MTB, was presented on October 19, a Wednesday. The financial services company reported $3.83 per share earnings for the previous quarter, which is $0.38 less than the consensus projection of $4.21 per share made by market analysts. M&T Bank had a return on equity of 10.74% and a net margin of 22.80% for the company overall. It was predicted that the company would have sales of $2.29 billion for the quarter, but instead, they came in at $2.24 billion, which is a significant decrease from the prediction. Compared to the previous year’s results for the same period, the corporation was successful in generating earnings of $3.76 per share. According to market observers, the M&T Bank Company is expected to generate 14.15 cents per share earnings this year.
In addition, the company has just recently announced and disbursed a quarterly dividend, which was paid out on Friday, December 30. This dividend was just recently declared and distributed. On Thursday, December 1, $1.20 dividend payments per share were made to stockholders with their record date on Thursday. On November 30, the shareholders were each given a dividend payment for their investment in the company. This translates to a dividend yield of 3.21% and a dividend payment to the shareholder of $4.80 per year. The dividend payout ratio (DPR) for M&T Bank is currently sitting at 45.28 percent.
MTB is something that has been put into consideration by a variety of research companies. JPMorgan Chase & Co. decreased their target price on M&T Bank shares from $180.00 to $153.00 and gave the stock a “neutral” rating in a research report published on Tuesday, December 13. The recommendation for M&T Bank’s stock was changed from “hold” to “sell” on January 10 by the website StockNews.com, which resulted in the stock receiving a rating of “sell.” Deutsche Bank Aktiengesellschaft stated in a report made public on Friday, January 6, that they had decreased their target price on M&T Bank shares from $255.00 to $175.00. The report was about the company’s price target reduction. In a report published on October 20, Piper Jaffray lowered its “overweight” rating that it had previously assigned to the shares of M&T Bank and lowered its target price for the stock from $210.00 to $195.00. The Street raised M&T Bank’s stock rating from “c+” to “b-” in a report published on Tuesday, September 27. This represents an improvement from the previous level of a “C” rating was at. One equity research expert believes that investors should sell the stock, eight believe that investors should keep their current holdings, seven believe that investors should buy the stock, and one believes that investors should sell the stock. The current consensus recommendation for M&T Bank is “Hold,” and the average price objective for the company’s stock is set at $182.72, according to the data obtained from Bloomberg.com.
M&T Bank Corporation is a financial holding company that offers retail banking services in addition to banking services for businesses. The business banking division of the company can offer a wide range of financial services to professionals and small businesses. These services can include cash management, deposits, loans, and other options. This financial institution’s Commercial Banking division caters to large and middle-market businesses by providing cash management services, letters of credit, deposit products, commercial loans and leasing, and commercial leasing. Additionally, the Commercial Banking division offers commercial leasing.