Squarepoint Ops LLC Increases Stock Position in M&T Bank Corporation $MTB

Key Points

• Squarepoint Ops LLC increased its M&T Bank stake by 718.5% in the second quarter, acquiring 196,982 additional shares for a total holding of 224,397 shares valued at approximately $53.4 million. Institutional investors collectively own 84.68% of the company.
• M&T Bank reported quarterly EPS of $5.35, surpassing analyst estimates of $4.66, while revenue reached $2.53 billion. The company declared a quarterly dividend of $1.50, equivalent to a 2.5% annualized yield.
• Analyst sentiment remains mostly neutral, with 13 Hold ratings, eight Buys and one Sell; the consensus price target is $255.97. Morgan Stanley was notably more bullish, upgrading the stock to Overweight with a $304 price target.

Squarepoint Ops LLC raised its stake in M&T Bank Corporation (NYSE:MTB - Free Report) by 718.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,397 shares of the financial services provider's stock after acquiring an additional 196,982 shares during the period. Squarepoint Ops LLC owned 0.16% of M&T Bank worth $53,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Beacon Investment Advisory Services Inc. lifted its holdings in shares of M&T Bank by 9.2% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 5,287 shares of the financial services provider's stock valued at $1,258,000 after purchasing an additional 444 shares during the last quarter. Hudock Inc. increased its position in M&T Bank by 17.4% during the second quarter. Hudock Inc. now owns 13,829 shares of the financial services provider's stock worth $3,291,000 after buying an additional 2,045 shares during the period. Arizona State Retirement System increased its position in M&T Bank by 2.3% during the second quarter. Arizona State Retirement System now owns 42,720 shares of the financial services provider's stock worth $10,168,000 after buying an additional 969 shares during the period. Empirical Finance LLC increased its position in M&T Bank by 3.2% during the second quarter. Empirical Finance LLC now owns 5,456 shares of the financial services provider's stock worth $1,299,000 after buying an additional 171 shares during the period. Finally, Nykredit A S purchased a new stake in M&T Bank in the second quarter valued at approximately $13,145,000. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Price Performance

Shares of NYSE MTB opened at $238.54 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a fifty day moving average price of $244.91 and a 200 day moving average price of $226.05. M&T Bank Corporation has a 1-year low of $174.76 and a 1-year high of $255.95. The company has a market cap of $34.45 billion, a PE ratio of 12.59, a P/E/G ratio of 1.36 and a beta of 0.56.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.69. The company had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.46 billion. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. During the same period in the previous year, the company posted $4.28 EPS. Sell-side analysts forecast that M&T Bank Corporation will post 19.43 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be issued a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $6.00 annualized dividend and a dividend yield of 2.5%. M&T Bank's payout ratio is presently 31.68%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MTB. UBS Group increased their price objective on M&T Bank from $252.00 to $255.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Robert W. Baird upped their price target on shares of M&T Bank from $240.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. DA Davidson upped their price target on shares of M&T Bank from $263.00 to $266.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Barclays increased their price target on shares of M&T Bank from $236.00 to $267.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. Finally, Morgan Stanley raised shares of M&T Bank from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $253.00 to $304.00 in a research report on Tuesday. Eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $255.97.

Insider Buying and Selling at M&T Bank

In other news, Director Rudina Seseri sold 623 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction of $150,167.92. Following the transaction, the director directly owned 3,649 shares in the company, valued at $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.44% of the stock is currently owned by insiders.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.

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