M&T Bank Corporation $MTB Shares Acquired by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stake in M&T Bank by 219.7% in Q1, owning 4,521 shares valued at approximately $808,000 at quarter-end.
• Several large investors, including Northern Trust Corp and Nuveen Asset Management LLC, also boosted their stakes in M&T Bank during Q4, with hedge funds collectively owning 84.68% of the stock.
• M&T Bank recently announced a quarterly dividend of $1.35 per share, translating to an annualized yield of 2.8% and a payout ratio of 34.97%.

Townsquare Capital LLC raised its stake in M&T Bank Corporation (NYSE:MTB - Free Report) by 219.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,521 shares of the financial services provider's stock after purchasing an additional 3,107 shares during the period. Townsquare Capital LLC's holdings in M&T Bank were worth $808,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Northern Trust Corp increased its stake in M&T Bank by 14.7% in the fourth quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider's stock valued at $316,483,000 after purchasing an additional 215,100 shares during the last quarter. First Trust Advisors LP increased its stake in M&T Bank by 2.1% in the fourth quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider's stock valued at $301,892,000 after purchasing an additional 33,017 shares during the last quarter. Nuveen Asset Management LLC increased its stake in M&T Bank by 22.3% in the fourth quarter. Nuveen Asset Management LLC now owns 1,567,270 shares of the financial services provider's stock valued at $294,662,000 after purchasing an additional 286,049 shares during the last quarter. Bank of New York Mellon Corp increased its stake in M&T Bank by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 1,442,381 shares of the financial services provider's stock valued at $257,826,000 after purchasing an additional 30,643 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of M&T Bank by 16.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,088,949 shares of the financial services provider's stock worth $204,733,000 after acquiring an additional 155,374 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MTB. Cowen began coverage on shares of M&T Bank in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. DA Davidson raised their target price on shares of M&T Bank from $189.00 to $207.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. TD Cowen began coverage on shares of M&T Bank in a research report on Thursday, May 15th. They set a "buy" rating and a $230.00 target price on the stock. Jefferies Financial Group set a $225.00 target price on shares of M&T Bank and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Wall Street Zen upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, M&T Bank currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.88.

M&T Bank Price Performance

M&T Bank stock traded down $0.3210 during midday trading on Tuesday, reaching $190.3490. The company's stock had a trading volume of 640,233 shares, compared to its average volume of 1,258,991. M&T Bank Corporation has a fifty-two week low of $150.75 and a fifty-two week high of $225.70. 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 stock's 50 day simple moving average is $191.86 and its 200 day simple moving average is $183.55. The firm has a market capitalization of $29.75 billion, a PE ratio of 12.33, a P/E/G ratio of 0.93 and a beta of 0.63.

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, 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 company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the company earned $3.73 earnings per share. On average, equities research analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current year.

Insider Transactions at M&T Bank

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of M&T Bank 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 completion of the transaction, the director owned 23,070 shares of the company's stock, valued at $4,233,806.40. The trade was a 22.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Peter D'arcy sold 2,461 shares of M&T Bank stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $197.31, for a total value of $485,579.91. Following the transaction, the executive vice president directly owned 9,319 shares of the company's stock, valued at $1,838,731.89. This trade represents a 20.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,438 shares of company stock valued at $1,967,346 in the last 90 days. 0.53% of the stock is currently owned by 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.