Machina Capital S.A.S. Makes New $516,000 Investment in M&T Bank Co. (NYSE:MTB)

Machina Capital S.A.S. acquired a new position in shares of M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 2,742 shares of the financial services provider’s stock, valued at approximately $516,000.

A number of other hedge funds also recently added to or reduced their stakes in MTB. Plato Investment Management Ltd lifted its position in M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 161 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $32,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after buying an additional 158 shares during the period. Y.D. More Investments Ltd lifted its holdings in shares of M&T Bank by 122.6% in the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after buying an additional 114 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of M&T Bank in the 3rd quarter valued at approximately $44,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MTB. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 price target (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Wells Fargo & Company raised their price target on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a report on Friday, November 15th. The Goldman Sachs Group raised their price target on M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Truist Financial reissued a “buy” rating and issued a $236.00 price target (up from $233.00) on shares of M&T Bank in a report on Friday, January 17th. Finally, Citigroup downgraded M&T Bank from a “buy” rating to a “neutral” rating and raised their price objective for the company from $220.00 to $230.00 in a research note on Monday, November 25th. One research 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’s stock. Based on data from MarketBeat, M&T Bank currently has a consensus rating of “Hold” and a consensus price target of $221.68.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $178.62 on Friday. The company has a market cap of $29.34 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.38 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70. The business has a fifty day simple moving average of $194.07 and a 200-day simple moving average of $191.77.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS 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 period in the prior year, the company earned $2.74 earnings per share. Equities research analysts forecast that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s payout ratio is currently 36.91%.

M&T Bank Company 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.