Farringdon Capital Ltd. Acquires Shares of 8,124 M&T Bank Co. (NYSE:MTB)

Farringdon Capital Ltd. acquired a new stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,124 shares of the financial services provider's stock, valued at approximately $1,527,000. M&T Bank accounts for approximately 0.6% of Farringdon Capital Ltd.'s investment portfolio, making the stock its 21st largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Resurgent Financial Advisors LLC raised its holdings in M&T Bank by 7.9% during the 4th quarter. Resurgent Financial Advisors LLC now owns 2,867 shares of the financial services provider's stock valued at $539,000 after acquiring an additional 211 shares during the period. Evergreen Capital Management LLC raised its stake in shares of M&T Bank by 18.6% during the 4th quarter. Evergreen Capital Management LLC now owns 4,026 shares of the financial services provider's stock valued at $757,000 after purchasing an additional 631 shares during the period. Jump Financial LLC purchased a new stake in M&T Bank during the 4th quarter worth about $251,000. Ontario Teachers Pension Plan Board bought a new position in M&T Bank in the 4th quarter worth about $599,000. Finally, Canada Post Corp Registered Pension Plan purchased a new position in M&T Bank during the 4th quarter valued at about $836,000. Institutional investors own 84.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MTB shares. Wells Fargo & Company lowered their price target on shares of M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased 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 report on Thursday, April 3rd. Piper Sandler reduced their target price on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Barclays dropped their target price on shares of M&T Bank from $235.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 15th. Finally, Morgan Stanley lowered their price target on M&T Bank from $269.00 to $253.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $208.14.

M&T Bank Stock Performance

Shares of NYSE:MTB traded up $4.58 during midday trading on Tuesday, hitting $161.35. The company had a trading volume of 379,239 shares, compared to its average volume of 1,111,302. The company has a market cap of $26.51 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.38 and a beta of 0.58. 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 fifty day moving average of $176.44 and a two-hundred day moving average of $191.21. M&T Bank Co. has a 12-month low of $139.78 and a 12-month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company earned $3.09 earnings per share. On average, equities research analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank's dividend payout ratio is currently 36.17%.

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

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. The trade was a 13.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by corporate insiders.

About M&T Bank

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.