Stevens Capital Management LP Purchases Shares of 5,243 M&T Bank Co. (NYSE:MTB)

Stevens Capital Management LP acquired a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,243 shares of the financial services provider's stock, valued at approximately $986,000.

A number of other institutional investors have also recently bought and sold shares of the business. Y.D. More Investments Ltd lifted its position in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after purchasing an additional 114 shares in the last quarter. Human Investing LLC acquired a new position in M&T Bank in the 4th quarter valued at approximately $44,000. Sierra Ocean LLC purchased a new stake in M&T Bank in the 4th quarter worth approximately $44,000. Principal Securities Inc. boosted its stake in shares of M&T Bank by 47.5% during the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock valued at $77,000 after buying an additional 132 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of M&T Bank during the 3rd quarter valued at $91,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Price Performance

Shares of M&T Bank stock traded down $2.56 during trading on Thursday, reaching $179.64. The company's stock had a trading volume of 709,294 shares, compared to its average volume of 1,048,283. The stock has a 50-day moving average price of $189.87 and a two-hundred day moving average price of $192.40. The stock has a market capitalization of $29.51 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. 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 Co. has a one year low of $133.03 and a one year high of $225.70.

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M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter last year, the business earned $2.74 EPS. As a group, sell-side analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its board has initiated a stock buyback program on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be given a $1.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.01%. M&T Bank's payout ratio is 36.91%.

Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the firm'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 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 trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

MTB has been the subject of a number of recent research reports. Citigroup cut their price target on M&T Bank from $230.00 to $195.00 and set a "neutral" rating for the company in a research note on Monday. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, February 5th. Evercore ISI cut their price target on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Truist Financial restated a "buy" rating and set a $236.00 price objective (up from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Finally, Morgan Stanley decreased their price target on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $219.97.

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.