Aster Capital Management DIFC Ltd Invests $1.37 Million in M&T Bank Co. (NYSE:MTB)

Aster Capital Management DIFC Ltd purchased a new stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,288 shares of the financial services provider's stock, valued at approximately $1,370,000.

Other large investors have also recently modified their holdings of the company. Y.D. More Investments Ltd lifted its position in M&T Bank by 122.6% in the 4th 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 purchased a new stake in shares of M&T Bank during the fourth quarter valued at $44,000. Sierra Ocean LLC purchased a new stake in shares of M&T Bank during the fourth quarter valued at $44,000. Loomis Sayles & Co. L P bought a new stake in M&T Bank in the 4th quarter worth about $52,000. Finally, Principal Securities Inc. raised its position in M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock worth $77,000 after buying an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

M&T Bank Price Performance

NYSE:MTB traded down $0.73 during trading hours on Friday, hitting $157.12. 441,239 shares of the stock traded hands, compared to its average volume of 1,110,398. The company has a market cap of $25.81 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70. The stock has a 50 day moving average price of $182.07 and a 200 day moving average price of $191.87. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47.

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M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating 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 in the previous year, the business posted $2.74 EPS. Sell-side analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its board has approved a stock repurchase 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 buy up to 12.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

M&T Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is 36.91%.

Insider Buying and Selling

In related news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 accessible through this link. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on MTB. Truist Financial reduced their price target on shares of M&T Bank from $236.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, April 4th. JPMorgan Chase & Co. cut their target price on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Wells Fargo & Company decreased their target price on shares of M&T Bank from $205.00 to $185.00 and set an "underweight" rating for the company in a research note on Friday, March 28th. DA Davidson raised their price target on M&T Bank from $222.00 to $223.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Finally, Barclays upped their price objective on M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $215.97.

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.