Quantbot Technologies LP Acquires Shares of 7,409 M&T Bank Corporation $MTB

Key Points

• Quantbot Technologies LP has acquired 7,409 shares of M&T Bank Corporation, valued at approximately $1,324,000, indicating increased institutional interest in the bank's stock.
• M&T Bank has reported an EPS of $4.28, surpassing estimates, and is set to increase its quarterly dividend to $1.50 per share, reflecting a strong financial performance.
• Analysts maintain a consensus rating of "Moderate Buy" for M&T Bank, with price target ranges varying among analysts, indicating mixed perceptions of future performance.

Quantbot Technologies LP acquired a new stake in M&T Bank Corporation (NYSE:MTB - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,409 shares of the financial services provider's stock, valued at approximately $1,324,000.

Other large investors have also modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in shares of M&T Bank by 53.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider's stock valued at $94,000 after buying an additional 184 shares in the last quarter. Private Trust Co. NA boosted its holdings in shares of M&T Bank by 16.5% in the 1st quarter. Private Trust Co. NA now owns 644 shares of the financial services provider's stock valued at $115,000 after buying an additional 91 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of M&T Bank in the 1st quarter valued at $225,000. Kingswood Wealth Advisors LLC boosted its holdings in shares of M&T Bank by 4.4% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,076 shares of the financial services provider's stock valued at $370,000 after buying an additional 88 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of M&T Bank in the 1st quarter valued at $46,000. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Stock Up 3.7%

MTB stock opened at $199.6150 on Friday. M&T Bank Corporation has a one year low of $150.75 and a one year high of $225.70. The stock has a market capitalization of $31.19 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.94 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 0.97. The company has a fifty day moving average of $192.73 and a 200-day moving average of $183.65.

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

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid a $1.50 dividend. This is a boost from M&T Bank's previous quarterly dividend of $1.35. The ex-dividend date is Tuesday, September 2nd. This represents a $6.00 annualized dividend and a dividend yield of 3.0%. M&T Bank's dividend payout ratio (DPR) is 34.97%.

Insider Transactions at M&T Bank

In other news, EVP Peter D'arcy sold 2,461 shares of the firm's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total value of $485,579.91. Following the completion of the sale, the executive vice president owned 9,319 shares in the company, valued at approximately $1,838,731.89. This trade represents a 20.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the firm's stock in a transaction on 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 $963,899.88. This trade represents a 20.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,438 shares of company stock worth $1,967,346. Company insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MTB shares. Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Wells Fargo & Company upped their target price on shares of M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Cowen started coverage on shares of M&T Bank in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $200.00 price target on shares of M&T Bank in a research note on Monday, May 19th. Finally, Citigroup increased their price target on shares of M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Thirteen research 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's stock. According to MarketBeat.com, M&T Bank currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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