Entropy Technologies LP Makes New Investment in M&T Bank Corporation $MTB

Key Points

• Entropy Technologies LP opened a new position in M&T Bank (NYSE:MTB) of 23,131 shares, valued at about $4.57 million in the third quarter per its 13F filing.
• M&T reported quarterly EPS of $4.72, beating estimates by $0.25 while revenue of $1.79B missed expectations, and announced a quarterly dividend of $1.50 (annualized $6.00, ~3.0% yield).
• Company insiders sold a total of 49,092 shares last quarter—including a 21,193‑share sale by director John P. Barnes—amounting to roughly $11.18 million in insider dispositions.

Entropy Technologies LP acquired a new position in shares of M&T Bank Corporation (NYSE:MTB - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 23,131 shares of the financial services provider's stock, valued at approximately $4,571,000.

A number of other large investors have also made changes to their positions in the stock. Bank of Jackson Hole Trust grew its position in M&T Bank by 342.9% during the third quarter. Bank of Jackson Hole Trust now owns 155 shares of the financial services provider's stock worth $31,000 after buying an additional 120 shares in the last quarter. Ameriflex Group Inc. raised its holdings in M&T Bank by 82.4% in the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 84 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in M&T Bank in the 2nd quarter valued at approximately $36,000. Westside Investment Management Inc. lifted its position in shares of M&T Bank by 61.8% in the 3rd quarter. Westside Investment Management Inc. now owns 199 shares of the financial services provider's stock worth $39,000 after acquiring an additional 76 shares during the period. Finally, Root Financial Partners LLC bought a new stake in shares of M&T Bank in the 3rd quarter worth approximately $61,000. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Price Performance

Shares of MTB stock opened at $198.32 on Friday. The stock's fifty day simple moving average is $219.23 and its 200 day simple moving average is $202.58. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $29.55 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 0.89 and a beta of 0.58. M&T Bank Corporation has a one year low of $150.75 and a one year high of $239.00.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.25. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $2.47 billion. M&T Bank had a return on equity of 10.94% and a net margin of 21.55%.During the same period in the prior year, the company posted $3.77 earnings per share. On average, analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 2nd will be given a dividend of $1.50 per share. The ex-dividend date is Monday, March 2nd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.0%. M&T Bank's dividend payout ratio (DPR) is 35.19%.

Insider Activity

In other M&T Bank news, Director John P. Barnes sold 21,193 shares of the business's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $235.85, for a total value of $4,998,369.05. Following the transaction, the director directly owned 15,142 shares in the company, valued at $3,571,240.70. The trade was a 58.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kirk W. Walters sold 909 shares of the company's stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $227.37, for a total transaction of $206,679.33. Following the sale, the director directly owned 5,976 shares in the company, valued at $1,358,763.12. This represents a 13.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 49,092 shares of company stock valued at $11,182,250. Company insiders own 0.53% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on MTB shares. Wolfe Research cut M&T Bank from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 7th. Barclays raised their target price on M&T Bank from $220.00 to $236.00 and gave the stock an "equal weight" rating in a research report on Monday, January 5th. JPMorgan Chase & Co. boosted their price target on shares of M&T Bank from $217.00 to $244.50 and gave the company a "neutral" rating in a report on Monday, February 9th. Keefe, Bruyette & Woods increased their price objective on shares of M&T Bank from $220.00 to $230.00 and gave the company a "market perform" rating in a research note on Wednesday, December 17th. Finally, TD Cowen reaffirmed a "buy" rating on shares of M&T Bank in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $232.87.

About M&T Bank

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.

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