Trexquant Investment LP Has $5.70 Million Stake in M&T Bank Co. (NYSE:MTB)

Trexquant Investment LP grew its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 74.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,291 shares of the financial services provider's stock after acquiring an additional 12,914 shares during the period. Trexquant Investment LP's holdings in M&T Bank were worth $5,695,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its holdings in M&T Bank by 6.4% in the 3rd quarter. State Street Corp now owns 8,773,439 shares of the financial services provider's stock worth $1,562,725,000 after buying an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in M&T Bank by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock worth $994,522,000 after purchasing an additional 252,583 shares during the last quarter. Geode Capital Management LLC raised its position in M&T Bank by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock valued at $819,768,000 after purchasing an additional 40,948 shares during the period. Norges Bank acquired a new position in M&T Bank in the fourth quarter valued at about $317,690,000. Finally, Amundi boosted its position in shares of M&T Bank by 43.5% during the 4th quarter. Amundi now owns 807,339 shares of the financial services provider's stock worth $154,315,000 after purchasing an additional 244,709 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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M&T Bank Price Performance

Shares of MTB traded down $12.51 during trading hours on Thursday, hitting $155.56. 571,239 shares of the company were exchanged, compared to its average volume of 1,108,903. The firm has a fifty day simple moving average of $182.84 and a 200-day simple moving average of $191.99. The company has a market capitalization of $25.56 billion, a PE ratio of 10.63, 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. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm posted $2.74 EPS. As a group, sell-side analysts predict that M&T Bank Co. will post 16.57 earnings per share 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 paid a $1.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.47%. M&T Bank's payout ratio is presently 36.91%.

M&T Bank announced that its board has authorized a stock 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 reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MTB shares. Barclays upped their target price on shares of M&T Bank from $228.00 to $235.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, February 5th. Evercore ISI reduced their target price on M&T Bank from $234.00 to $205.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Citigroup lowered their price objective on shares of 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, JPMorgan Chase & Co. decreased their target price on shares of M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, M&T Bank has an average rating of "Hold" and an average target price of $215.97.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now directly owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company's stock.

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.