Virtu Financial LLC Purchases Shares of 3,513 M&T Bank Corporation $MTB

Virtu Financial LLC acquired a new position in shares of M&T Bank Corporation (NYSE:MTB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,513 shares of the financial services provider’s stock, valued at approximately $708,000.

Several other large investors also recently made changes to their positions in MTB. Triumph Capital Management purchased a new position in shares of M&T Bank in the 3rd quarter valued at $32,000. Elyxium Wealth LLC purchased a new stake in M&T Bank during the 4th quarter worth $33,000. Ameriflex Group Inc. boosted its position in M&T Bank by 82.4% during the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 84 shares during the period. Bank of Jackson Hole Trust increased its holdings in M&T Bank by 38.7% in the 4th 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 in the last quarter. Finally, Hoese & Co LLP acquired a new stake in M&T Bank in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

M&T Bank Stock Performance

NYSE:MTB opened at $227.48 on Tuesday. The firm has a 50-day moving average of $217.34 and a two-hundred day moving average of $214.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $33.32 billion, a P/E ratio of 12.74, a PEG ratio of 1.10 and a beta of 0.58. M&T Bank Corporation has a 1-year low of $174.76 and a 1-year high of $239.00.

M&T Bank (NYSE:MTB) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.16. M&T Bank had a return on equity of 11.35% and a net margin of 22.07%.The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $3.32 earnings per share. On average, research analysts expect that M&T Bank Corporation will post 18.81 earnings per share for the current fiscal year.

M&T Bank announced that its Board of Directors has initiated a stock buyback plan on Tuesday, March 31st that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 16.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, June 1st. This represents a $6.00 annualized dividend and a yield of 2.6%. M&T Bank’s payout ratio is currently 33.59%.

Insider Transactions at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 3,105 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $216.50, for a total value of $672,232.50. Following the transaction, the executive vice president directly owned 6,753 shares of the company’s stock, valued at $1,462,024.50. This represents a 31.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.44% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MTB. Wall Street Zen upgraded M&T Bank from a “sell” rating to a “hold” rating in a research note on Saturday. Robert W. Baird raised their target price on M&T Bank from $230.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Argus boosted their price target on M&T Bank from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. The Goldman Sachs Group upped their price target on M&T Bank from $231.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, April 6th. Finally, Piper Sandler increased their price objective on shares of M&T Bank from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $235.32.

M&T Bank Company Profile

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.