Aquatic Capital Management LLC Invests $8.73 Million in M&T Bank Co. (NYSE:MTB)

Aquatic Capital Management LLC bought a new stake 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. The fund bought 46,446 shares of the financial services provider's stock, valued at approximately $8,732,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Y.D. More Investments Ltd increased its holdings in shares of 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 valued at $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC bought a new stake in M&T Bank during the 4th quarter valued at $44,000. Sierra Ocean LLC acquired a new position in M&T Bank during the fourth quarter worth $44,000. Loomis Sayles & Co. L P bought a new position in shares of M&T Bank in the fourth quarter valued at $52,000. Finally, Principal Securities Inc. grew its holdings in shares of M&T Bank by 47.5% during the fourth 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 last quarter. 84.68% of the stock is owned by institutional investors.

M&T Bank Stock Down 1.0 %

MTB opened at $167.44 on Friday. The firm has a market capitalization of $27.51 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a one year low of $139.78 and a one year high of $225.70. The company has a fifty day moving average price of $173.82 and a 200-day moving average price of $190.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB - Get Free Report) last issued 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). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The business had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the firm posted $3.09 EPS. Equities research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

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

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.23%. M&T Bank's dividend payout ratio (DPR) is currently 36.17%.

Insider Transactions at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Truist Financial dropped their target price on M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Barclays cut 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. Evercore ISI lowered their price target on 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. Finally, Morgan Stanley cut their price objective on shares of M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $208.24.

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.

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