2,333 Shares in M&T Bank Co. (NYSE:MTB) Purchased by Stevens Capital Management LP

Stevens Capital Management LP bought a new stake in M&T Bank Co. (NYSE:MTB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,333 shares of the financial services provider’s stock, valued at approximately $320,000.

Several other institutional investors also recently bought and sold shares of the business. Headinvest LLC acquired a new stake in M&T Bank during the third quarter worth about $29,000. BKM Wealth Management LLC bought a new stake in shares of M&T Bank in the 4th quarter worth about $32,000. Creative Financial Designs Inc. ADV acquired a new position in M&T Bank during the 4th quarter valued at about $33,000. CVA Family Office LLC acquired a new stake in shares of M&T Bank in the 4th quarter valued at approximately $33,000. Finally, Planned Solutions Inc. bought a new position in shares of M&T Bank in the fourth quarter valued at $33,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total value of $4,182,525.00. Following the sale, the director now owns 6,367 shares in the company, valued at $923,215. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other M&T Bank news, EVP Doris P. Meister sold 1,638 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the transaction, the executive vice president now owns 3,362 shares of the company’s stock, valued at $464,662.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kirk W. Walters sold 28,845 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $145.00, for a total value of $4,182,525.00. Following the completion of the sale, the director now owns 6,367 shares in the company, valued at approximately $923,215. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,119 shares of company stock worth $5,341,012. 0.82% of the stock is currently owned by insiders.

M&T Bank Stock Down 0.4 %

Shares of MTB stock traded down $0.52 on Friday, hitting $146.38. The stock had a trading volume of 657,022 shares, compared to its average volume of 1,188,787. The stock has a market cap of $24.39 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 1.24 and a beta of 0.80. The business has a 50 day moving average of $140.84 and a 200 day moving average of $133.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.99. M&T Bank Co. has a 12-month low of $108.53 and a 12-month high of $148.93.

M&T Bank (NYSE:MTB) last issued its earnings results on Monday, April 15th. The financial services provider reported $3.02 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm earned $4.09 earnings per share. As a group, analysts expect that M&T Bank Co. will post 13.92 EPS for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a yield of 3.55%. M&T Bank’s payout ratio is 35.16%.

Analyst Ratings Changes

MTB has been the topic of a number of recent analyst reports. Piper Sandler cut their price objective on M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, January 19th. Bank of America boosted their target price on M&T Bank from $157.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods upped their price target on shares of M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. increased their target price on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group lowered their price target on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a report on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $158.48.

M&T Bank Company 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.