Farringdon Capital Ltd. Makes New Investment in M&T Bank Co. (NYSE:MTB)

Farringdon Capital Ltd. purchased a new stake in M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 8,124 shares of the financial services provider’s stock, valued at approximately $1,527,000. M&T Bank comprises 0.6% of Farringdon Capital Ltd.’s portfolio, making the stock its 21st biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in MTB. Y.D. More Investments Ltd lifted its holdings in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 114 shares during the last quarter. Human Investing LLC acquired a new stake in M&T Bank in the 4th quarter valued at approximately $44,000. Sierra Ocean LLC bought a new stake in M&T Bank during the 4th quarter valued at $44,000. Loomis Sayles & Co. L P bought a new position in shares of M&T Bank in the fourth quarter worth $52,000. Finally, Principal Securities Inc. increased its holdings in shares of M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 132 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

M&T Bank Stock Down 0.5 %

M&T Bank stock opened at $158.84 on Thursday. M&T Bank Co. has a twelve month low of $137.76 and a twelve month high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The firm has a market cap of $26.10 billion, a PE ratio of 10.86, a P/E/G ratio of 1.38 and a beta of 0.58. The firm’s 50 day moving average price is $178.78 and its two-hundred day moving average price is $191.32.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the business posted $3.09 earnings per share. On average, research analysts predict that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its board has approved a stock buyback program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 12.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

M&T Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were issued a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.40%. M&T Bank’s dividend payout ratio is currently 36.91%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MTB. Royal Bank of Canada decreased their target price on shares of M&T Bank from $208.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday. Truist Financial dropped their target price on M&T Bank from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Robert W. Baird dropped their price target on shares of M&T Bank from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, M&T Bank has an average rating of “Hold” and an average price target of $208.14.

M&T Bank Company Profile

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.