Squarepoint Ops LLC Boosts Stake in M&T Bank Corporation $MTB

Squarepoint Ops LLC increased its holdings in shares of M&T Bank Corporation (NYSE:MTB) by 718.5% during the second quarter, HoldingsChannel reports. The fund owned 224,397 shares of the financial services provider’s stock after buying an additional 196,982 shares during the period. Squarepoint Ops LLC’s holdings in M&T Bank were worth $53,409,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Commonwealth Retirement Investments LLC boosted its position in shares of M&T Bank by 0.4% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 10,991 shares of the financial services provider’s stock worth $2,214,000 after purchasing an additional 44 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of M&T Bank by 1.0% in the 2nd quarter. Wedmont Private Capital now owns 4,405 shares of the financial services provider’s stock valued at $1,067,000 after purchasing an additional 45 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of M&T Bank by 2.4% in the 4th quarter. Wedbush Securities Inc. now owns 2,223 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 52 shares in the last quarter. CX Institutional increased its holdings in shares of M&T Bank by 3.4% in the 2nd quarter. CX Institutional now owns 1,650 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 54 shares in the last quarter. Finally, Bank of Jackson Hole Trust lifted its stake in shares of M&T Bank by 38.7% in the fourth quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Transactions at M&T Bank

In other M&T Bank news, Director Rudina Seseri sold 623 shares of M&T Bank stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the sale, the director directly owned 3,649 shares of the company’s stock, valued at approximately $879,554.96. The trade was a 14.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.44% of the company’s stock.

M&T Bank Price Performance

NYSE:MTB opened at $238.54 on Wednesday. The firm has a market cap of $34.45 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.36 and a beta of 0.56. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average is $244.91 and its two-hundred day moving average is $226.05. M&T Bank Corporation has a 12-month low of $174.76 and a 12-month high of $255.95.

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

M&T Bank Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Monday, July 20th. 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. Truist Financial boosted their price target on M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Robert W. Baird upped their price target on M&T Bank from $240.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Cantor Fitzgerald raised their price objective on M&T Bank from $262.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. 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 company’s stock. According to data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and a consensus price target of $255.97.

About M&T Bank

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.