Aster Capital Management DIFC Ltd Acquires New Stake in M&T Bank Co. (NYSE:MTB)

Aster Capital Management DIFC Ltd acquired a new stake in M&T Bank Co. (NYSE:MTB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,288 shares of the financial services provider’s stock, valued at approximately $1,370,000.

Several other large investors have also recently added to or reduced their stakes in MTB. Townsquare Capital LLC acquired a new stake in M&T Bank in the third quarter valued at approximately $230,000. Captrust Financial Advisors lifted its position in shares of M&T Bank by 3.6% during the 3rd quarter. Captrust Financial Advisors now owns 7,761 shares of the financial services provider’s stock worth $1,382,000 after buying an additional 270 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in M&T Bank during the 3rd quarter worth $1,074,000. HighTower Advisors LLC increased its position in shares of M&T Bank by 2.1% during the third quarter. HighTower Advisors LLC now owns 52,507 shares of the financial services provider’s stock worth $9,353,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in M&T Bank by 41.0% during the third quarter. Integrated Wealth Concepts LLC now owns 9,679 shares of the financial services provider’s stock worth $1,724,000 after buying an additional 2,815 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Price Performance

NYSE:MTB opened at $157.13 on Friday. The firm’s fifty day moving average price is $186.82 and its two-hundred day moving average price is $192.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The company has a market cap of $25.82 billion, a P/E ratio of 10.74, a P/E/G ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a one year low of $133.03 and a one year high of $225.70.

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

M&T Bank Dividend Announcement

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

M&T Bank announced that its Board of Directors has initiated a share buyback program on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 12.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research note on Thursday. Citigroup reduced their target price 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. Evercore ISI dropped their price objective on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Truist Financial decreased 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 note on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $215.97.

Insider Buying and Selling

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on Wednesday, March 12th. The shares were 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 directly owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.53% of the stock is owned by insiders.

M&T Bank 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.