Two Sigma Investments LP Acquires New Shares in M&T Bank Co. (NYSE:MTB)

Two Sigma Investments LP purchased a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 37,817 shares of the financial services provider's stock, valued at approximately $7,110,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Banque Transatlantique SA acquired a new position in shares of M&T Bank in the 4th quarter worth approximately $38,000. Y.D. More Investments Ltd raised its stake in M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC bought a new position in shares of M&T Bank during the fourth quarter valued at $44,000. Sierra Ocean LLC bought a new position in shares of M&T Bank during the fourth quarter valued at $44,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of M&T Bank in the 4th quarter valued at $52,000. Institutional investors own 84.68% of the company's stock.

Insiders Place Their Bets

In related news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company's stock.

M&T Bank Stock Performance

MTB stock traded down $0.95 during trading hours on Friday, hitting $182.01. 194,928 shares of the stock were exchanged, compared to its average volume of 1,144,991. M&T Bank Co. has a 12 month low of $139.78 and a 12 month high of $225.70. The company has a 50-day simple moving average of $172.39 and a two-hundred day simple moving average of $188.12. The firm has a market capitalization of $29.22 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB - Get Free Report) last issued its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company 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 Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Monday, June 2nd. M&T Bank's dividend payout ratio is presently 36.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler reduced their price objective on M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Evercore ISI reduced their price objective on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Jefferies Financial Group set a $225.00 target price on M&T Bank and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Robert W. Baird dropped their price objective on M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, TD Cowen initiated coverage on shares of M&T Bank in a report on Thursday, May 15th. They set a "buy" rating and a $230.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company 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.