Capital Fund Management S.A. Acquires Shares of 22,159 M&T Bank Corporation $MTB

Key Points

• Capital Fund Management S.A. has acquired a new position in M&T Bank Corporation, purchasing 22,159 shares valued at approximately $3.96 million.
• M&T Bank has announced a quarterly dividend increase from $1.35 to $1.50, which represents an annualized yield of 3.0%.
• The company's most recent quarterly earnings report showed an EPS of $4.28, exceeding expectations, with a net margin of 20.44%.

Capital Fund Management S.A. acquired a new position in M&T Bank Corporation (NYSE:MTB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 22,159 shares of the financial services provider's stock, valued at approximately $3,961,000.

Several other large investors have also recently modified their holdings of the stock. Marcum Wealth LLC increased its holdings in shares of M&T Bank by 4.9% in the first quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock worth $220,000 after buying an additional 57 shares during the period. Forum Financial Management LP increased its holdings in M&T Bank by 2.2% during the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock valued at $540,000 after purchasing an additional 62 shares during the period. Checchi Capital Advisers LLC increased its holdings in M&T Bank by 4.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider's stock valued at $282,000 after purchasing an additional 67 shares during the period. Investors Research Corp increased its holdings in M&T Bank by 31.1% during the 1st quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 70 shares during the period. Finally, Mayflower Financial Advisors LLC increased its holdings in M&T Bank by 3.9% during the 1st quarter. Mayflower Financial Advisors LLC now owns 1,876 shares of the financial services provider's stock valued at $335,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Stock Down 0.5%

MTB stock traded down $1.11 during midday trading on Thursday, hitting $200.91. The company's stock had a trading volume of 484,061 shares, compared to its average volume of 1,241,001. The company has a market cap of $31.40 billion, a PE ratio of 13.02, a P/E/G ratio of 0.98 and a beta of 0.63. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $225.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. The firm's 50-day moving average is $193.95 and its 200-day moving average is $183.64.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping the consensus estimate of $4.04 by $0.24. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%.During the same period in the prior year, the business posted $3.73 EPS. On average, equities research analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 2nd will be given a $1.50 dividend. This is an increase from M&T Bank's previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $6.00 dividend on an annualized basis and a yield of 3.0%. M&T Bank's dividend payout ratio is currently 38.86%.

Insider Activity

In other news, EVP Peter D'arcy sold 2,461 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total transaction of $485,579.91. Following the transaction, the executive vice president directly owned 9,319 shares of the company's stock, valued at approximately $1,838,731.89. This trade represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John P. Barnes sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the completion of the sale, the director owned 17,866 shares of the company's stock, valued at approximately $3,569,448.14. This trade represents a 45.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,438 shares of company stock valued at $4,964,196. Company insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Jefferies Financial Group set a $225.00 price objective on M&T Bank and gave the company a "buy" rating in a research report on Wednesday, May 21st. Wall Street Zen raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. DA Davidson lifted their price objective on M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Morgan Stanley lifted their price objective on M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Finally, Cowen assumed coverage on M&T Bank in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $212.88.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.