Hussman Strategic Advisors Inc. Has $2.63 Million Stock Holdings in M&T Bank Corporation (NYSE:MTB)

Hussman Strategic Advisors Inc. grew its holdings in M&T Bank Corporation (NYSE:MTB - Free Report) by 133.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,700 shares of the financial services provider's stock after purchasing an additional 8,400 shares during the quarter. Hussman Strategic Advisors Inc.'s holdings in M&T Bank were worth $2,628,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of MTB. Parallel Advisors LLC boosted its stake in M&T Bank by 1.7% in the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider's stock worth $660,000 after purchasing an additional 60 shares in the last quarter. Signaturefd LLC increased its stake in shares of M&T Bank by 5.0% in the 4th quarter. Signaturefd LLC now owns 1,989 shares of the financial services provider's stock valued at $374,000 after buying an additional 94 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in shares of M&T Bank by 120.3% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,593 shares of the financial services provider's stock valued at $300,000 after acquiring an additional 870 shares during the period. Royal London Asset Management Ltd. lifted its stake in shares of M&T Bank by 0.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 68,236 shares of the financial services provider's stock valued at $12,829,000 after acquiring an additional 588 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of M&T Bank during the fourth quarter valued at $294,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Insider Buying and Selling

In related news, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the transaction, the director directly owned 23,070 shares of the company's stock, valued at approximately $4,233,806.40. This represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company's stock.

M&T Bank Stock Up 1.0%

M&T Bank stock traded up $1.89 during midday trading on Monday, reaching $198.08. The stock had a trading volume of 130,108 shares, compared to its average volume of 1,197,273. The firm's fifty day simple moving average is $188.64 and its 200-day simple moving average is $184.31. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $225.70. The stock has a market capitalization of $31.80 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.35 and a beta of 0.63. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 0.91.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.04 by $0.24. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the firm earned $3.73 EPS. As a group, analysts expect that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 2nd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 2.73%. M&T Bank's dividend payout ratio (DPR) is presently 34.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MTB shares. Deutsche Bank Aktiengesellschaft raised M&T Bank from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a research note on Thursday, April 24th. Citigroup upped their price target on M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company upped their price target on M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a research note on Thursday. TD Cowen started coverage on M&T Bank in a research note on Thursday, May 15th. They set a "buy" rating and a $230.00 price target on the stock. Finally, Piper Sandler cut their price target on M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $212.88.

M&T Bank Company 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.