Caxton Associates LLP Acquires New Holdings in M&T Bank Corporation $MTB

Caxton Associates LLP acquired a new stake in shares of M&T Bank Corporation (NYSE:MTB) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,157 shares of the financial services provider’s stock, valued at approximately $922,000.

Other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its holdings in M&T Bank by 53.8% during the first quarter. Exchange Traded Concepts LLC now owns 526 shares of the financial services provider’s stock valued at $94,000 after buying an additional 184 shares during the period. Private Trust Co. NA increased its holdings in M&T Bank by 16.5% during the first quarter. Private Trust Co. NA now owns 644 shares of the financial services provider’s stock valued at $115,000 after buying an additional 91 shares during the period. Concurrent Investment Advisors LLC purchased a new position in M&T Bank during the first quarter valued at approximately $225,000. Kingswood Wealth Advisors LLC increased its holdings in M&T Bank by 4.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,076 shares of the financial services provider’s stock valued at $370,000 after buying an additional 88 shares during the period. Finally, Raymond James Financial Inc. increased its holdings in M&T Bank by 1.8% during the first quarter. Raymond James Financial Inc. now owns 117,972 shares of the financial services provider’s stock valued at $21,088,000 after buying an additional 2,111 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MTB shares. Jefferies Financial Group raised their target price on shares of M&T Bank from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Cantor Fitzgerald started coverage on shares of M&T Bank in a research note on Wednesday. They issued an “overweight” rating and a $228.00 target price for the company. Cowen started coverage on shares of M&T Bank in a research note on Wednesday, May 14th. They issued a “buy” rating for the company. DA Davidson raised their target price on shares of M&T Bank from $189.00 to $207.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Fourteen equities research 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. According to data from MarketBeat.com, M&T Bank has an average rating of “Moderate Buy” and an average price target of $214.31.

Insider Transactions at M&T Bank

In other news, Director John P. Barnes sold 15,000 shares of M&T Bank stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $199.79, for a total transaction of $2,996,850.00. Following the completion of the sale, the director directly owned 17,866 shares in the company, valued at approximately $3,569,448.14. The trade was a 45.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard H. Jr. Ledgett sold 1,277 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $197.48, for a total transaction of $252,181.96. Following the transaction, the director owned 4,881 shares of the company’s stock, valued at $963,899.88. This represents a 20.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,738 shares of company stock worth $3,734,612. Company insiders own 0.53% of the company’s stock.

M&T Bank Trading Down 0.8%

NYSE:MTB opened at $198.12 on Thursday. M&T Bank Corporation has a 12 month low of $150.75 and a 12 month high of $225.70. The firm has a fifty day simple moving average of $195.64 and a 200-day simple moving average of $183.79. 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 market capitalization of $30.96 billion, a P/E ratio of 12.83, a PEG ratio of 0.98 and a beta of 0.67.

M&T Bank (NYSE:MTB) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping 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 business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the firm posted $3.73 earnings per share. On average, equities research analysts anticipate that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $1.50 per share. The ex-dividend date is Tuesday, September 2nd. This is an increase 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 payout ratio is presently 38.86%.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.