M&T Bank Co. (NYSE:MTB) Shares Bought by Point72 Europe London LLP

Point72 Europe London LLP lifted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 27.0% during the 3rd quarter, Holdings Channel reports. The firm owned 77,500 shares of the financial services provider’s stock after buying an additional 16,500 shares during the period. Point72 Europe London LLP’s holdings in M&T Bank were worth $13,804,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Captrust Financial Advisors boosted its holdings in M&T Bank by 3.6% in the third quarter. Captrust Financial Advisors now owns 7,761 shares of the financial services provider’s stock valued at $1,382,000 after purchasing an additional 270 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in M&T Bank in the 3rd quarter valued at about $219,000. Infrastructure Capital Advisors LLC purchased a new position in shares of M&T Bank in the 3rd quarter valued at about $1,879,000. Northwest & Ethical Investments L.P. grew its position in shares of M&T Bank by 264.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 53,473 shares of the financial services provider’s stock worth $9,525,000 after buying an additional 38,784 shares in the last quarter. Finally, Vinva Investment Management Ltd increased its stake in shares of M&T Bank by 80.9% during the third quarter. Vinva Investment Management Ltd now owns 10,021 shares of the financial services provider’s stock worth $1,758,000 after buying an additional 4,483 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on MTB shares. Morgan Stanley boosted their price target on shares of M&T Bank from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada increased their target price on M&T Bank from $190.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Barclays lifted their price target on M&T Bank from $170.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Wolfe Research upgraded M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Friday, October 4th. Finally, Wedbush raised their target price on M&T Bank from $208.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $206.41.

M&T Bank Stock Down 0.4 %

MTB stock opened at $219.99 on Friday. M&T Bank Co. has a 12 month low of $125.61 and a 12 month high of $225.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $36.50 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74. The company has a fifty day moving average price of $196.45 and a 200 day moving average price of $171.86.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, October 17th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.48. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.30 billion. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. Sell-side analysts expect that M&T Bank Co. will post 14.57 earnings per share for the current year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. M&T Bank’s dividend payout ratio (DPR) is presently 39.97%.

Insider Buying and Selling

In other M&T Bank news, EVP John R. Taylor sold 1,436 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $195.03, for a total transaction of $280,063.08. Following the transaction, the executive vice president now owns 5,618 shares in the company, valued at approximately $1,095,678.54. The trade was a 20.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Denis J. Salamone sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 44,902 shares of the company’s stock, valued at $7,724,491.06. This represents a 18.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,504 shares of company stock valued at $18,394,012 over the last three months. 0.82% of the stock is currently owned by company insiders.

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.