WINTON GROUP Ltd Raises Stock Position in M&T Bank Corporation $MTB

WINTON GROUP Ltd grew its stake in M&T Bank Corporation (NYSE:MTB) by 310.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,159 shares of the financial services provider’s stock after buying an additional 17,515 shares during the period. WINTON GROUP Ltd’s holdings in M&T Bank were worth $5,512,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MTB. Empowered Funds LLC boosted its stake in M&T Bank by 11.9% in the first quarter. Empowered Funds LLC now owns 3,396 shares of the financial services provider’s stock valued at $607,000 after acquiring an additional 362 shares in the last quarter. Woodline Partners LP increased its position in shares of M&T Bank by 40.7% during the first quarter. Woodline Partners LP now owns 14,018 shares of the financial services provider’s stock worth $2,506,000 after purchasing an additional 4,054 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of M&T Bank by 24.6% in the 2nd quarter. Lazard Asset Management LLC now owns 2,900 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 572 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of M&T Bank in the 2nd quarter valued at about $92,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of M&T Bank by 4.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,727 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 71 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Price Performance

M&T Bank stock opened at $239.06 on Friday. M&T Bank Corporation has a 12 month low of $174.76 and a 12 month high of $255.95. 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 business has a 50 day simple moving average of $244.84 and a 200-day simple moving average of $226.16. The stock has a market capitalization of $34.53 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.56.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.69. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.46 billion. M&T Bank had a return on equity of 11.80% and a net margin of 22.72%.During the same period last year, the company earned $4.28 earnings per share. Equities analysts predict that M&T Bank Corporation will post 19.45 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, September 1st. M&T Bank’s payout ratio is 31.68%.

Insider Activity

In related news, Director Rudina Seseri sold 623 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $241.04, for a total transaction 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 document filed with the SEC, which is available at this link. 0.44% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on MTB shares. Evercore set a $260.00 price target on M&T Bank in a research note on Monday, July 6th. Truist Financial boosted their price objective on M&T Bank from $230.00 to $268.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Barclays increased their price objective on M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Morgan Stanley upgraded shares of M&T Bank from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $253.00 to $304.00 in a research report on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $300.00 target price on shares of M&T Bank in a report on Wednesday, July 15th. Eight analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $255.97.

M&T Bank Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.