Two Sigma Advisers LP Acquires Shares of 5,224 M&T Bank Co. (NYSE:MTB)

Two Sigma Advisers LP purchased a new stake in M&T Bank Co. (NYSE:MTB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,224 shares of the financial services provider's stock, valued at approximately $982,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of M&T Bank by 14.3% in the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after acquiring an additional 1,761,014 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in M&T Bank by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock valued at $994,522,000 after purchasing an additional 252,583 shares in the last quarter. Geode Capital Management LLC increased its stake in M&T Bank by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock valued at $819,768,000 after purchasing an additional 40,948 shares during the last quarter. Norges Bank purchased a new position in M&T Bank in the fourth quarter valued at approximately $317,690,000. Finally, Northern Trust Corp raised its holdings in M&T Bank by 14.7% during the fourth quarter. Northern Trust Corp now owns 1,683,329 shares of the financial services provider's stock worth $316,483,000 after purchasing an additional 215,100 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

M&T Bank Trading Up 1.5%

MTB stock traded up $2.71 on Tuesday, hitting $182.75. 1,060,709 shares of the company were exchanged, compared to its average volume of 1,155,105. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The stock has a market capitalization of $29.33 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a twelve month low of $139.78 and a twelve month high of $225.70. The business's fifty day moving average is $172.34 and its two-hundred day moving average is $187.32.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $3.09 earnings per share. As a group, research analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 2nd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.95%. M&T Bank's dividend payout ratio (DPR) is 36.17%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. DA Davidson lowered their target price on shares of M&T Bank from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of M&T Bank in a research note on Monday, May 19th. TD Cowen began coverage on M&T Bank in a research report on Thursday, May 15th. They set a "buy" rating and a $230.00 price objective for the company. Cowen initiated coverage on M&T Bank in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, Morgan Stanley decreased their price target on M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One equities research 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. According to data from MarketBeat.com, M&T Bank presently has an average rating of "Moderate Buy" and a consensus target price of $212.53.

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.