M&T Bank Corporation $MTB Shares Acquired by Jump Financial LLC

Jump Financial LLC increased its stake in M&T Bank Corporation (NYSE:MTB) by 3,098.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 42,735 shares of the financial services provider’s stock after buying an additional 41,399 shares during the period. Jump Financial LLC’s holdings in M&T Bank were worth $7,639,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Wood Tarver Financial Group LLC acquired a new position in M&T Bank during the fourth quarter valued at approximately $29,000. Banque Transatlantique SA purchased a new position in shares of M&T Bank in the 4th quarter valued at $38,000. Grove Bank & Trust raised its stake in shares of M&T Bank by 104.6% in the 1st quarter. Grove Bank & Trust now owns 223 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 114 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of M&T Bank during the first quarter worth $46,000. Finally, Investors Research Corp raised its holdings in M&T Bank by 31.1% in the first quarter. Investors Research Corp now owns 295 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 70 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MTB. Wells Fargo & Company increased their target price on shares of M&T Bank from $175.00 to $185.00 and gave the stock an “underweight” rating in a report on Thursday, July 17th. TD Cowen initiated coverage on shares of M&T Bank in a report on Thursday, May 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Jefferies Financial Group set a $225.00 price objective on shares of M&T Bank and gave the stock a “buy” rating in a report on Wednesday, May 21st. Cowen initiated coverage on shares of M&T Bank in a research report on Wednesday, May 14th. They issued a “buy” rating for the company. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of M&T Bank in a research report on Monday, May 19th. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, M&T Bank currently has an average rating of “Moderate Buy” and an average price target of $212.88.

M&T Bank Stock Performance

NYSE:MTB opened at $199.6150 on Monday. M&T Bank Corporation has a twelve month low of $150.75 and a twelve month high of $225.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $192.73 and a 200-day moving average of $183.41. The firm has a market cap of $31.19 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 0.98 and a beta of 0.63.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.04 by $0.24. M&T Bank had a net margin of 20.44% and a return on equity of 10.35%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the firm posted $3.73 EPS. Analysts forecast that M&T Bank Corporation will post 16.57 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be issued a $1.50 dividend. The ex-dividend date is Tuesday, September 2nd. This is a positive change from M&T Bank’s previous quarterly dividend of $1.35. This represents a $6.00 annualized dividend and a dividend yield of 3.0%. M&T Bank’s dividend payout ratio is 34.97%.

Insiders Place Their Bets

In other M&T Bank news, Director Robert E. Sadler, Jr. sold 6,700 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total value of $1,229,584.00. Following the completion of the transaction, the director directly owned 23,070 shares in the company, valued at $4,233,806.40. This trade represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $197.48, for a total transaction of $252,181.96. Following the completion of the sale, the director directly owned 4,881 shares of the company’s stock, valued at $963,899.88. This trade represents a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,438 shares of company stock worth $1,967,346 over the last ninety days. 0.53% of the stock is currently owned by company 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.