Integrated Quantitative Investments LLC Buys New Stake in M&T Bank Co. (NYSE:MTB)

Integrated Quantitative Investments LLC acquired a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,070 shares of the financial services provider's stock, valued at approximately $389,000.

A number of other hedge funds have also bought and sold shares of the company. Townsquare Capital LLC bought a new position in M&T Bank during the 3rd quarter valued at about $230,000. Captrust Financial Advisors boosted its position in shares of M&T Bank by 3.6% during the third quarter. Captrust Financial Advisors now owns 7,761 shares of the financial services provider's stock valued at $1,382,000 after buying an additional 270 shares during the period. Benjamin Edwards Inc. bought a new position in shares of M&T Bank during the third quarter valued at approximately $1,074,000. HighTower Advisors LLC lifted its stake in shares of M&T Bank by 2.1% during the 3rd quarter. HighTower Advisors LLC now owns 52,507 shares of the financial services provider's stock worth $9,353,000 after acquiring an additional 1,075 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its holdings in M&T Bank by 47.7% during the 3rd quarter. Investment Management Corp of Ontario now owns 5,576 shares of the financial services provider's stock valued at $993,000 after acquiring an additional 1,800 shares during the period. Institutional investors own 84.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Truist Financial reduced their target price on M&T Bank from $236.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. DA Davidson lifted their price objective on shares of M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a report on Friday, January 17th. Wells Fargo & Company dropped their target price on shares of M&T Bank from $205.00 to $185.00 and set an "underweight" rating on the stock in a research note on Friday, March 28th. Barclays raised their price target on M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. Finally, 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 note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $215.97.

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Insider Activity

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company'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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company's stock.

M&T Bank Stock Down 7.4 %

Shares of MTB stock traded down $12.43 during trading hours on Thursday, reaching $155.63. 627,605 shares of the company's stock were exchanged, compared to its average volume of 1,109,168. The stock has a market cap of $25.57 billion, a PE ratio of 10.67, a PEG ratio of 1.38 and a beta of 0.58. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock's fifty day moving average price is $182.84 and its two-hundred day moving average price is $191.99. M&T Bank Co. has a 1 year low of $133.03 and a 1 year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last posted 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 net margin of 19.24% and a return on equity of 10.12%. During the same period in the previous year, the company earned $2.74 earnings per share. Research analysts predict that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

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

M&T Bank declared that its Board of Directors has initiated a stock buyback 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 buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

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.