5,752 Shares in M&T Bank Co. (NYSE:MTB) Purchased by Quadrature Capital Ltd

Quadrature Capital Ltd bought a new position in shares of M&T Bank Co. (NYSE:MTB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,752 shares of the financial services provider’s stock, valued at approximately $788,000.

Several other institutional investors have also recently made changes to their positions in the business. Burns J W & Co. Inc. NY grew its position in shares of M&T Bank by 1.3% during the fourth quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 80 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in M&T Bank by 3.2% during the fourth quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after buying an additional 80 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in M&T Bank by 41.7% during the third quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock valued at $43,000 after buying an additional 100 shares during the last quarter. CI Investments Inc. boosted its stake in M&T Bank by 2.9% during the third quarter. CI Investments Inc. now owns 3,722 shares of the financial services provider’s stock valued at $471,000 after buying an additional 104 shares during the last quarter. Finally, Steamboat Capital Partners LLC boosted its stake in M&T Bank by 1.9% during the third quarter. Steamboat Capital Partners LLC now owns 5,823 shares of the financial services provider’s stock valued at $736,000 after buying an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,821 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $153.78, for a total transaction of $280,033.38. Following the transaction, the executive vice president now directly owns 8,579 shares in the company, valued at approximately $1,319,278.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other M&T Bank news, EVP Christopher E. Kay sold 1,821 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $153.78, for a total transaction of $280,033.38. Following the transaction, the executive vice president now directly owns 8,579 shares in the company, valued at approximately $1,319,278.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirk W. Walters sold 16,179 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $148.01, for a total value of $2,394,653.79. Following the transaction, the director now owns 6,348 shares in the company, valued at $939,567.48. The disclosure for this sale can be found here. In the last three months, insiders sold 97,553 shares of company stock valued at $14,724,147. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTB. Evercore ISI increased their price target on M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Piper Sandler reissued an “overweight” rating and set a $164.00 price target on shares of M&T Bank in a research note on Friday. Wedbush reissued an “outperform” rating and set a $170.00 price target on shares of M&T Bank in a research note on Wednesday, April 10th. StockNews.com lowered M&T Bank from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on M&T Bank from $162.00 to $170.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus price target of $159.79.

M&T Bank Price Performance

Shares of MTB stock opened at $147.51 on Friday. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $156.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $24.61 billion, a P/E ratio of 9.97, a P/E/G ratio of 2.88 and a beta of 0.78. The stock has a 50 day moving average price of $147.45 and a 200 day moving average price of $141.36.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the business posted $4.09 earnings per share. As a group, sell-side analysts predict that M&T Bank Co. will post 14.02 earnings per share for the current year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a dividend of $1.35 per share. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Monday, June 3rd. M&T Bank’s dividend payout ratio (DPR) is currently 36.51%.

M&T Bank 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.