Ransom Advisory Ltd Acquires Shares of 2,563 M&T Bank Corporation $MTB

Key Points

• Ransom Advisory Ltd acquired 2,563 shares of M&T Bank Corporation ($MTB), valued at approximately $458,000, as reported in their 13F filing with the SEC.
• M&T Bank reported earnings per share (EPS) of $4.28 for the latest quarter, surpassing analysts' expectations of $4.04.
• The firm announced a quarterly dividend increase to $1.50 per share, reflecting a boost from the previous dividend of $1.35 and a dividend yield of 3.0%.

Ransom Advisory Ltd acquired a new stake in shares of M&T Bank Corporation (NYSE:MTB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,563 shares of the financial services provider's stock, valued at approximately $458,000.

A number of other hedge funds have also recently bought and sold shares of MTB. Marcum Wealth LLC raised its stake in shares of M&T Bank by 4.9% in the 1st quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock worth $220,000 after buying an additional 57 shares in the last quarter. First Manhattan CO. LLC. raised its stake in shares of M&T Bank by 0.6% in the 1st quarter. First Manhattan CO. LLC. now owns 9,693 shares of the financial services provider's stock worth $1,733,000 after buying an additional 57 shares in the last quarter. Forum Financial Management LP raised its stake in shares of M&T Bank by 2.2% in the 4th quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock worth $540,000 after buying an additional 62 shares in the last quarter. Compound Planning Inc. raised its stake in shares of M&T Bank by 3.0% in the 1st quarter. Compound Planning Inc. now owns 2,222 shares of the financial services provider's stock worth $397,000 after buying an additional 64 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in shares of M&T Bank by 4.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider's stock worth $282,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

M&T Bank Price Performance

MTB opened at $199.72 on Wednesday. The stock has a market cap of $31.21 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.98 and a beta of 0.67. M&T Bank Corporation has a 1 year low of $150.75 and a 1 year high of $225.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $195.68 and a 200 day moving average price of $183.69.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter last year, the firm earned $3.73 earnings per share. Analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 annualized dividend and a dividend yield of 3.0%. This is a boost from M&T Bank's previous quarterly dividend of $1.35. M&T Bank's payout ratio is presently 38.86%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MTB. TD Cowen began coverage on M&T Bank in a report on Thursday, May 15th. They issued a "buy" rating and a $230.00 target price on the stock. Citigroup lifted their target price on M&T Bank from $200.00 to $212.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Morgan Stanley lifted their target price on M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Jefferies Financial Group lifted their price target on M&T Bank from $220.00 to $240.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Cowen initiated coverage on M&T Bank in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $213.63.

Insiders Place Their Bets

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director owned 23,070 shares of the company's stock, valued at $4,233,806.40. This represents a 22.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John P. Barnes sold 15,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total value of $2,996,850.00. Following the completion of the transaction, the director directly owned 17,866 shares of the company's stock, valued at approximately $3,569,448.14. This trade represents a 45.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,438 shares of company stock worth $4,964,196 over the last quarter. 0.53% of the stock is currently owned by company insiders.

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.

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