Twinbeech Capital LP Takes $25.89 Million Position in M&T Bank Co. (NYSE:MTB)

Twinbeech Capital LP purchased a new position in M&T Bank Co. (NYSE:MTB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 137,716 shares of the financial services provider's stock, valued at approximately $25,892,000. Twinbeech Capital LP owned 0.08% of M&T Bank at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Banque Transatlantique SA acquired a new stake in M&T Bank in the fourth quarter worth $38,000. Y.D. More Investments Ltd grew its holdings in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after purchasing an additional 114 shares during the period. Human Investing LLC acquired a new stake in M&T Bank in the fourth quarter worth $44,000. Sierra Ocean LLC acquired a new stake in M&T Bank in the fourth quarter worth $44,000. Finally, Loomis Sayles & Co. L P acquired a new stake in M&T Bank in the fourth quarter worth $52,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now owns 10,751 shares of the company's stock, valued at $1,852,827.34. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.53% of the company's stock.

M&T Bank Stock Performance

MTB stock traded down $5.71 during mid-day trading on Wednesday, hitting $180.03. The company had a trading volume of 1,279,988 shares, compared to its average volume of 1,139,032. The firm has a market cap of $28.90 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a 12 month low of $139.78 and a 12 month high of $225.70. The stock's fifty day moving average price is $171.92 and its two-hundred day moving average price is $189.11.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the firm posted $3.09 EPS. On average, analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank announced that its board has initiated a stock repurchase plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Monday, June 2nd. M&T Bank's dividend payout ratio is 36.17%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MTB. Citigroup reduced their price objective on shares of M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Jefferies Financial Group began coverage on shares of M&T Bank in a report on Wednesday. They set a "buy" rating and a $225.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. TD Cowen began coverage on shares of M&T Bank in a report on Thursday, May 15th. They set a "buy" rating and a $230.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, M&T Bank has an average rating of "Moderate Buy" and an average price target of $212.53.

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.