J2 Capital Management Inc Invests $455,000 in M&T Bank Co. (NYSE:MTB)

J2 Capital Management Inc acquired a new stake in M&T Bank Co. (NYSE:MTB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,420 shares of the financial services provider's stock, valued at approximately $455,000.

Several other hedge funds have also recently added to or reduced their stakes in MTB. Hedeker Wealth LLC increased its stake in shares of M&T Bank by 1.6% in the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider's stock valued at $627,000 after acquiring an additional 55 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in M&T Bank by 1.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider's stock worth $1,005,000 after purchasing an additional 57 shares during the period. Crestwood Advisors Group LLC boosted its position in shares of M&T Bank by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider's stock worth $553,000 after purchasing an additional 57 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after buying an additional 68 shares during the period. Finally, Meitav Investment House Ltd. increased its position in shares of M&T Bank by 3.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider's stock valued at $386,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Insider Buying and Selling at M&T Bank

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the company's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the transaction, the insider now owns 16,429 shares of the company's stock, valued at approximately $3,546,856.81. This represents a 13.16 % 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. Also, Director John P. Barnes sold 20,000 shares of M&T Bank stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $193.97, for a total value of $3,879,400.00. Following the sale, the director now directly owns 49,960 shares of the company's stock, valued at approximately $9,690,741.20. The trade was a 28.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,994 shares of company stock valued at $17,211,278 in the last quarter. 0.82% of the stock is currently owned by insiders.

M&T Bank Stock Performance

NYSE MTB traded up $0.78 on Friday, hitting $196.88. 2,029,408 shares of the stock were exchanged, compared to its average volume of 1,013,933. The business's fifty day moving average is $202.41 and its 200 day moving average is $183.71. M&T Bank Co. has a 52 week low of $128.31 and a 52 week high of $225.70. The company has a market capitalization of $32.67 billion, a PE ratio of 14.57, a P/E/G ratio of 2.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 17.82% and a return on equity of 9.52%. During the same period in the prior year, the company posted $2.74 earnings per share. Research analysts anticipate that M&T Bank Co. will post 14.58 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Monday, December 2nd. M&T Bank's dividend payout ratio (DPR) is presently 39.97%.

Analyst Ratings Changes

MTB has been the topic of several recent analyst reports. Piper Sandler lifted their target price on M&T Bank from $205.00 to $243.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Wells Fargo & Company raised their target price on shares of M&T Bank from $190.00 to $205.00 and gave the stock an "underweight" rating in a report on Friday, November 15th. JPMorgan Chase & Co. restated a "neutral" rating and set a $223.50 price objective (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Finally, Royal Bank of Canada upped their target price on shares of M&T Bank from $190.00 to $208.00 and gave the stock an "outperform" rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $221.68.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.