Lighthouse Investment Partners LLC Makes New Investment in M&T Bank Co. (NYSE:MTB)

Lighthouse Investment Partners LLC acquired a new stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 88,091 shares of the financial services provider's stock, valued at approximately $16,562,000. Lighthouse Investment Partners LLC owned about 0.05% of M&T Bank at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank of Canada lowered their price objective on shares of M&T Bank from $208.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Piper Sandler decreased their price objective on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Barclays dropped their target price on M&T Bank from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 15th. Robert W. Baird decreased their price target on shares of M&T Bank from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, TD Cowen began coverage on shares of M&T Bank in a report on Thursday. They issued a "buy" rating and a $230.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $209.33.

M&T Bank Stock Performance

NYSE MTB traded up $1.65 during mid-day trading on Thursday, reaching $187.06. 762,656 shares of the stock were exchanged, compared to its average volume of 1,131,461. M&T Bank Co. has a 1 year low of $139.78 and a 1 year high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The company has a market capitalization of $30.03 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.38 and a beta of 0.58. The business's 50 day moving average is $170.63 and its 200-day moving average is $189.45.

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 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 analysts' expectations 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 previous year, the firm posted $3.09 EPS. On average, equities research analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.89%. M&T Bank's payout ratio is currently 36.17%.

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

Insider Activity

In related news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This represents a 13.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.53% of the company's stock.

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.