Quantitative Investment Management LLC Invests $1.25 Million in M&T Bank Corporation $MTB

Quantitative Investment Management LLC bought a new position in M&T Bank Corporation (NYSE:MTB) during the second quarter, according to its most recent filing with the SEC. The firm bought 5,246 shares of the financial services provider’s stock, valued at approximately $1,248,000.

Several other hedge funds have also bought and sold shares of the business. LSV Asset Management raised its holdings in M&T Bank by 14.5% during the fourth quarter. LSV Asset Management now owns 391,900 shares of the financial services provider’s stock worth $78,960,000 after buying an additional 49,500 shares during the last quarter. Adams Diversified Equity Fund Inc. increased its position in shares of M&T Bank by 22.8% during the first quarter. Adams Diversified Equity Fund Inc. now owns 119,900 shares of the financial services provider’s stock worth $24,786,000 after acquiring an additional 22,300 shares in the last quarter. Danske Bank A S bought a new stake in shares of M&T Bank during the second quarter worth about $34,683,000. Bank of New York Mellon Corp acquired a new stake in shares of M&T Bank in the 2nd quarter worth about $330,978,000. Finally, Allstate Corp raised its holdings in shares of M&T Bank by 99.4% in the 4th quarter. Allstate Corp now owns 11,242 shares of the financial services provider’s stock worth $2,265,000 after acquiring an additional 5,604 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of analyst reports. Robert W. Baird lifted their price target on M&T Bank from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Wells Fargo & Company increased their price objective on M&T Bank from $215.00 to $224.00 and gave the stock an “underweight” rating in a research note on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of M&T Bank in a report on Thursday, June 4th. JPMorgan Chase & Co. lifted their target price on M&T Bank from $251.50 to $265.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, Evercore set a $260.00 target price on M&T Bank in a research report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $253.43.

Insider Buying and Selling at M&T Bank

In other news, Director Rudina Seseri sold 623 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the transaction, the director directly owned 3,649 shares of the company’s stock, valued at $879,554.96. This represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.44% of the stock is owned by insiders.

M&T Bank Stock Down 1.5%

MTB opened at $233.68 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.96 and a quick ratio of 0.96. The company’s 50-day moving average is $244.71 and its 200 day moving average is $225.75. M&T Bank Corporation has a fifty-two week low of $174.76 and a fifty-two week high of $255.95. The firm has a market capitalization of $33.75 billion, a P/E ratio of 12.34, a PEG ratio of 1.10 and a beta of 0.57.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the firm posted $4.28 EPS. Research analysts expect that M&T Bank Corporation will post 19.43 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, September 1st. M&T Bank’s payout ratio is presently 31.68%.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.