Oxford Asset Management LLP Makes New Investment in M&T Bank Co. (NYSE:MTB)

Oxford Asset Management LLP acquired a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,710 shares of the financial services provider's stock, valued at approximately $698,000.

A number of other large investors also recently modified their holdings of MTB. Y.D. More Investments Ltd raised its position in shares of 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 worth $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC acquired a new position in shares of M&T Bank in the fourth quarter valued at approximately $44,000. Sierra Ocean LLC purchased a new position in M&T Bank during the 4th quarter worth $44,000. Loomis Sayles & Co. L P purchased a new stake in M&T Bank in the 4th quarter valued at approximately $52,000. Finally, Principal Securities Inc. grew its holdings in M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock worth $77,000 after acquiring an additional 132 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Price Performance

M&T Bank stock traded down $0.20 during trading hours on Wednesday, hitting $169.71. 1,066,921 shares of the company traded hands, compared to its average volume of 1,400,397. The firm's 50-day simple moving average is $172.65 and its two-hundred day simple moving average is $190.60. The firm has a market cap of $27.88 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 1-year low of $139.78 and a 1-year high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (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 period in the previous year, the firm earned $3.09 earnings per share. As a group, analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its board has authorized a share buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

M&T Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were given a $1.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.18%. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MTB. Royal Bank of Canada reduced their price target 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. Evercore ISI cut their target price on shares of M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Piper Sandler lowered their price target on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company reduced their target price on M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Citigroup dropped their price target on M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, M&T Bank has a consensus rating of "Hold" and an average target price of $208.24.

About M&T Bank

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.