M&T Bank Corporation $MTB Shares Bought by Jump Financial LLC

Key Points

• Jump Financial LLC increased its holdings in M&T Bank Corporation by 3,098.7%, owning 42,735 shares valued at $7,639,000 after acquiring an additional 41,399 shares in Q1.
• M&T Bank reported a 4.28 EPS for the last quarter, exceeding expectations and marking an increase from the previous year's EPS of $3.73.
• The company announced a quarterly dividend increase to $1.50 per share, representing an annual yield of 3.0% and a payout ratio of 34.97%.

Jump Financial LLC lifted its holdings in M&T Bank Corporation (NYSE:MTB - Free Report) by 3,098.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,735 shares of the financial services provider's stock after buying an additional 41,399 shares during the quarter. Jump Financial LLC's holdings in M&T Bank were worth $7,639,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MTB. MML Investors Services LLC increased its holdings in M&T Bank by 66.8% during the 4th quarter. MML Investors Services LLC now owns 11,427 shares of the financial services provider's stock worth $2,148,000 after purchasing an additional 4,575 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in M&T Bank by 117.1% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 74,007 shares of the financial services provider's stock worth $13,914,000 after purchasing an additional 39,917 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in M&T Bank during the 4th quarter worth $545,000. Coldstream Capital Management Inc. increased its holdings in M&T Bank by 18.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,369 shares of the financial services provider's stock worth $821,000 after purchasing an additional 679 shares during the period. Finally, Boothbay Fund Management LLC purchased a new position in M&T Bank during the 4th quarter worth $242,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Richard H. Jr. Ledgett sold 1,277 shares of M&T Bank stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $197.48, for a total transaction of $252,181.96. Following the completion of the sale, the director 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $183.52, for a total value of $1,229,584.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,438 shares of company stock worth $4,964,196. 0.53% of the stock is owned by insiders.

M&T Bank Stock Down 0.5%

Shares of M&T Bank stock traded down $1.11 during trading on Thursday, reaching $200.91. The company's stock had a trading volume of 848,671 shares, compared to its average volume of 1,243,443. 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 $31.40 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 0.98 and a beta of 0.63. M&T Bank Corporation has a 1-year low of $150.75 and a 1-year high of $225.70. The company has a 50-day simple moving average of $193.95 and a two-hundred day simple moving average of $183.64.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.04 by $0.24. The firm had revenue of $2.40 billion during the quarter, compared to analysts' expectations 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 last year, the firm earned $3.73 EPS. As a group, equities analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. TD Cowen assumed coverage on M&T Bank in a report on Thursday, May 15th. They set a "buy" rating and a $230.00 price objective on the stock. Wells Fargo & Company lifted 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. Wall Street Zen upgraded M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Morgan Stanley lifted 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. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $200.00 price target on shares of M&T Bank in a report on Monday, May 19th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $212.88.

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.