XTX Topco Ltd Takes Position in M&T Bank Co. (NYSE:MTB)

XTX Topco Ltd acquired a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,522 shares of the financial services provider's stock, valued at approximately $662,000.

Several other hedge funds have also modified their holdings of MTB. FMR LLC raised its holdings in shares of M&T Bank by 14.3% during the 4th quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock worth $2,652,899,000 after acquiring an additional 1,761,014 shares in the last quarter. Norges Bank purchased a new stake in shares of M&T Bank during the 4th quarter worth approximately $317,690,000. Charles Schwab Investment Management Inc. raised its holdings in shares of M&T Bank by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock worth $994,522,000 after acquiring an additional 252,583 shares in the last quarter. Amundi raised its holdings in shares of M&T Bank by 43.5% during the 4th quarter. Amundi now owns 807,339 shares of the financial services provider's stock worth $154,315,000 after acquiring an additional 244,709 shares in the last quarter. Finally, LGT Capital Partners LTD. purchased a new stake in shares of M&T Bank during the 4th quarter worth approximately $34,803,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on MTB. Morgan Stanley decreased their price objective on M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada cut their target price on M&T Bank from $208.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Truist Financial cut their target price on M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Evercore ISI cut their target price on M&T Bank from $234.00 to $205.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Finally, Robert W. Baird cut their target price on M&T Bank from $220.00 to $200.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $208.24.

Insider Buying and Selling

In other M&T Bank 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 transaction of $299,526.92. Following the sale, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by company insiders.

M&T Bank Stock Up 2.0 %

Shares of NYSE:MTB traded up $3.35 during trading hours on Thursday, hitting $168.69. The company's stock had a trading volume of 251,911 shares, compared to its average volume of 1,114,911. M&T Bank Co. has a 52 week low of $139.78 and a 52 week high of $225.70. 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 company has a market capitalization of $27.71 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.38 and a beta of 0.58. The firm's fifty day moving average price is $175.07 and its 200 day moving average price is $190.83.

M&T Bank (NYSE:MTB - Get Free Report) last posted 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 firm had revenue of $2.31 billion for 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 quarter last year, the firm earned $3.09 EPS. As a group, research analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.20%. M&T Bank's dividend payout ratio (DPR) is presently 36.17%.

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

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.