5,157 Shares in M&T Bank Corporation $MTB Purchased by Caxton Associates LLP

Key Points

• Caxton Associates LLP has acquired a new stake in M&T Bank Corporation, purchasing 5,157 shares valued at approximately $922,000.
• Several institutional investors, including Wellington Management and Invesco, have recently increased their holdings in M&T Bank, demonstrating strong institutional interest.
• M&T Bank has announced an increase in its quarterly dividend to $1.50 per share, reflecting a positive financial outlook, with a dividend yield of 3.0%.

Caxton Associates LLP acquired a new position in M&T Bank Corporation (NYSE:MTB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,157 shares of the financial services provider's stock, valued at approximately $922,000.

Several other large investors also recently bought and sold shares of MTB. Sciencast Management LP acquired a new position in shares of M&T Bank during the 1st quarter worth approximately $3,592,000. CTC Alternative Strategies Ltd. acquired a new position in M&T Bank during the first quarter worth approximately $1,788,000. Ashton Thomas Private Wealth LLC raised its position in shares of M&T Bank by 7.0% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 5,200 shares of the financial services provider's stock worth $930,000 after buying an additional 338 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of M&T Bank by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,097,864 shares of the financial services provider's stock worth $196,243,000 after purchasing an additional 187,780 shares during the period. Finally, Teewinot Capital Advisers L.L.C. acquired a new position in M&T Bank during the first quarter valued at approximately $694,000. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Up 0.4%

Shares of MTB traded up $0.89 during trading on Friday, reaching $198.72. The company's stock had a trading volume of 696,729 shares, compared to its average volume of 808,852. M&T Bank Corporation has a twelve month low of $150.75 and a twelve month high of $225.70. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. The company has a market cap of $31.05 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.97 and a beta of 0.67. The company has a fifty day moving average of $195.47 and a two-hundred day moving average of $183.88.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The firm had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.39 billion. During the same period in the prior year, the company posted $3.73 earnings per share. On average, sell-side analysts predict that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

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

Insider Buying and Selling

In other news, Director Richard H. Jr. Ledgett sold 1,277 shares of M&T Bank stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $197.48, for a total value of $252,181.96. Following the completion of the transaction, the director owned 4,881 shares in the company, valued at approximately $963,899.88. This trade represents a 20.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Barnes sold 15,000 shares of the business'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 value of $2,996,850.00. Following the completion of the sale, the director owned 17,866 shares of the company's stock, valued at $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 three months, insiders sold 18,738 shares of company stock worth $3,734,612. Corporate insiders own 0.53% of the company's stock.

Analyst Ratings Changes

MTB has been the subject of several recent research reports. Jefferies Financial Group increased their price target on M&T Bank from $220.00 to $240.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. DA Davidson raised their target price on M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Wells Fargo & Company boosted their price target on M&T Bank from $175.00 to $185.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. Citigroup increased their price objective on shares of M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Cantor Fitzgerald initiated coverage on shares of M&T Bank in a research note on Wednesday. They set an "overweight" rating and a $228.00 price objective on the stock. Fourteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $214.31.

M&T Bank Profile

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.