Dynamic Technology Lab Private Ltd Makes New Investment in M&T Bank Co. (NYSE:MTB)

Dynamic Technology Lab Private Ltd acquired a new stake in M&T Bank Co. (NYSE:MTB - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,430 shares of the financial services provider's stock, valued at approximately $1,021,000.

Other hedge funds also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. lifted its stake in shares of M&T Bank by 34.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider's stock valued at $1,473,000 after purchasing an additional 2,018 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in M&T Bank by 89.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider's stock valued at $515,000 after buying an additional 1,295 shares during the period. US Bancorp DE lifted its position in M&T Bank by 24.3% in the fourth quarter. US Bancorp DE now owns 8,382 shares of the financial services provider's stock valued at $1,576,000 after buying an additional 1,639 shares during the last quarter. Summit Trail Advisors LLC purchased a new position in M&T Bank during the fourth quarter worth about $290,000. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of M&T Bank during the fourth quarter valued at about $297,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Down 1.5 %

Shares of MTB traded down $2.32 during midday trading on Friday, reaching $155.53. The stock had a trading volume of 308,942 shares, compared to its average volume of 1,109,900. 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's fifty day simple moving average is $182.07 and its two-hundred day simple moving average is $191.87. The company has a market cap of $25.55 billion, a price-to-earnings ratio of 10.63, a PEG 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.

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M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly 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 return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the prior year, the business posted $2.74 earnings per share. Equities research analysts expect that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio (DPR) is 36.91%.

Insider Buying and Selling at M&T Bank

In other 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 completion of the sale, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective 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. 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. DA Davidson boosted their price objective on M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a report on Friday, January 17th. Citigroup decreased their target price on M&T Bank from $230.00 to $195.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of "Hold" and an average target price of $215.97.

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.