Hussman Strategic Advisors Inc. Acquires 8,400 Shares of 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% in the 1st quarter, according to the company in its most recent 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 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MTB. Exchange Traded Concepts LLC raised its stake in shares of M&T Bank by 53.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider's stock worth $94,000 after acquiring an additional 184 shares in the last quarter. Private Trust Co. NA raised its stake in shares of M&T Bank by 16.5% during the 1st quarter. Private Trust Co. NA now owns 644 shares of the financial services provider's stock worth $115,000 after acquiring an additional 91 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of M&T Bank during the 1st quarter worth approximately $225,000. Kingswood Wealth Advisors LLC raised its stake in shares of M&T Bank by 4.4% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,076 shares of the financial services provider's stock worth $370,000 after acquiring an additional 88 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in M&T Bank by 0.9% during the 4th quarter. American Century Companies Inc. now owns 67,987 shares of the financial services provider's stock valued at $12,782,000 after purchasing an additional 610 shares in the last quarter. Institutional investors own 84.68% of the company's stock.

Wall Street Analyst Weigh In

MTB has been the topic of a number of recent analyst reports. Citigroup upped their price target on shares of M&T Bank from $200.00 to $212.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. DA Davidson upped their price target on shares of M&T Bank from $189.00 to $207.00 and gave the company a "neutral" rating in a research note on Thursday. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 price target on shares of M&T Bank in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft upgraded shares of 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. Finally, Truist Financial cut their price target on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, M&T Bank presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.88.

Insider Activity at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm's stock in a transaction 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 transaction, the director directly owned 23,070 shares of the company's stock, valued at approximately $4,233,806.40. This trade represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.53% of the company's stock.

M&T Bank Stock Performance

MTB traded down $0.03 during trading hours on Friday, hitting $195.57. 155,391 shares of the stock were exchanged, compared to its average volume of 1,310,752. The stock has a 50-day simple moving average of $188.26 and a 200-day simple moving average of $184.31. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $225.70. The stock has a market cap of $31.39 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.37 and a beta of 0.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.91 and a quick ratio of 0.97.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.39 billion. During the same period last year, the business posted $3.73 earnings per share. Analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Monday, June 2nd. M&T Bank's dividend payout ratio (DPR) is 36.17%.

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.

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