Dynamic Technology Lab Private Ltd Makes New Investment in M&T Bank Co. (NYSE:MTB)

Dynamic Technology Lab Private Ltd acquired a new position in shares of M&T Bank Co. (NYSE:MTB) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 5,430 shares of the financial services provider’s stock, valued at approximately $1,021,000.

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

M&T Bank Price Performance

Shares of NYSE:MTB opened at $157.13 on Friday. The firm has a market capitalization of $25.82 billion, a PE ratio of 10.74, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $186.82 and a two-hundred day moving average price of $192.67. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period in the prior year, the business earned $2.74 EPS. Equities analysts forecast that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s dividend payout ratio is currently 36.91%.

M&T Bank announced that its board has authorized a share buyback program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Evercore ISI decreased their target price on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Truist Financial reduced their price objective on shares of M&T Bank from $236.00 to $225.00 and set a “buy” rating for the company in a research report on Friday. Barclays upped their price target on M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Citigroup lowered their price objective on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Finally, StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $215.97.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

About M&T Bank

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.