Qube Research & Technologies Ltd Buys New Shares in M&T Bank Co. (NYSE:MTB)

Qube Research & Technologies Ltd bought a new stake in M&T Bank Co. (NYSE:MTBGet Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,453 shares of the financial services provider’s stock, valued at approximately $4,831,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in shares of M&T Bank in the 4th quarter valued at $31,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of M&T Bank in the 3rd quarter valued at $34,000. Widmann Financial Services Inc. acquired a new position in shares of M&T Bank in the 4th quarter valued at $37,000. UMB Bank N A MO acquired a new position in shares of M&T Bank in the 4th quarter valued at $49,000. Finally, Lindbrook Capital LLC increased its position in shares of M&T Bank by 39.2% in the 4th quarter. Lindbrook Capital LLC now owns 355 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 100 shares during the period. 87.61% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have weighed in on MTB. Citigroup began coverage on M&T Bank in a research report on Thursday, March 24th. They set a “buy” rating on the stock. JPMorgan Chase & Co. began coverage on M&T Bank in a research report on Thursday, April 14th. They set a “neutral” rating on the stock. Wells Fargo & Company increased their price target on M&T Bank from $180.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 21st. Morgan Stanley raised M&T Bank from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $179.00 to $238.00 in a research report on Thursday, April 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on M&T Bank from $180.00 to $200.00 in a research report on Friday, March 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $192.28.

MTB stock opened at $165.70 on Thursday. The company’s 50-day simple moving average is $170.48 and its 200-day simple moving average is $167.20. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.21. M&T Bank Co. has a 52-week low of $128.46 and a 52-week high of $186.95. The firm has a market cap of $29.73 billion, a P/E ratio of 12.66, a PEG ratio of 1.02 and a beta of 0.87.

M&T Bank (NYSE:MTBGet Rating) last issued its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.24. M&T Bank had a net margin of 29.31% and a return on equity of 11.45%. During the same period last year, the firm posted $3.41 EPS. On average, analysts anticipate that M&T Bank Co. will post 13.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 1st will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.90%. M&T Bank’s dividend payout ratio is presently 36.67%.

M&T Bank declared that its Board of Directors has authorized a share buyback plan on Tuesday, February 22nd that authorizes the company to repurchase $800.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

M&T Bank Profile (Get Rating)

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

See Also

Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.