Dynamic Technology Lab Private Ltd Has $356,000 Stake in M&T Bank Corporation $MTB

Key Points

• Dynamic Technology Lab Private Ltd reduced its stake in M&T Bank Corporation by 63.4%, selling 3,440 shares, leaving it with a total of 1,990 shares valued at approximately $356,000.
• Analysts are optimistic about M&T Bank, with Jefferies Financial Group raising their price target from $220.00 to $240.00 and 14 analysts rating the stock as a "Buy".
• M&T Bank declared a $1.50 quarterly dividend, an increase from the previous dividend of $1.35, resulting in a dividend yield of 3.0%.

Dynamic Technology Lab Private Ltd cut its position in M&T Bank Corporation (NYSE:MTB - Free Report) by 63.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,990 shares of the financial services provider's stock after selling 3,440 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in M&T Bank were worth $356,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Preservation Advisors LLC bought a new position in shares of M&T Bank in the first quarter valued at $25,000. WPG Advisers LLC bought a new position in shares of M&T Bank in the first quarter valued at $25,000. Wood Tarver Financial Group LLC bought a new position in shares of M&T Bank in the fourth quarter valued at $29,000. Grove Bank & Trust grew its stake in shares of M&T Bank by 104.6% in the first quarter. Grove Bank & Trust now owns 223 shares of the financial services provider's stock valued at $40,000 after buying an additional 114 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in M&T Bank during the 1st quarter valued at $46,000. 84.68% of the stock is owned by institutional investors.

M&T Bank Price Performance

MTB stock traded up $1.83 during midday trading on Thursday, reaching $200.43. The company had a trading volume of 984,510 shares, compared to its average volume of 819,006. The company has a market capitalization of $31.32 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 0.97 and a beta of 0.67. The stock has a 50 day moving average price of $195.17 and a 200-day moving average price of $184.10. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $225.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 0.97.

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 EPS for the quarter, beating analysts' consensus estimates of $4.04 by $0.24. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $3.73 earnings per share. Equities research analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The business 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 boost from M&T Bank's previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Tuesday, September 2nd. M&T Bank's payout ratio is presently 38.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MTB shares. Morgan Stanley raised their price target on M&T Bank from $206.00 to $215.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Wells Fargo & Company raised their price target on M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Citigroup raised their price target on M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Cantor Fitzgerald started coverage on M&T Bank in a report on Wednesday, September 10th. They set an "overweight" rating and a $228.00 price target for the company. Finally, Jefferies Financial Group raised 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. Fourteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, M&T Bank presently has an average rating of "Moderate Buy" and an average target price of $214.31.

Insider Activity at M&T Bank

In other M&T Bank news, Director John P. Barnes sold 15,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the completion of the transaction, the director owned 17,866 shares of the company's stock, valued at approximately $3,569,448.14. The trade was a 45.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $197.48, for a total value of $252,181.96. Following the transaction, the director directly owned 4,881 shares of the company's stock, valued at approximately $963,899.88. The trade was a 20.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,738 shares of company stock valued at $3,734,612 over the last quarter. 0.53% of the stock is owned by corporate insiders.

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.