J2 Capital Management Inc Buys Shares of 2,420 M&T Bank Co. (NYSE:MTB)

J2 Capital Management Inc purchased a new position in M&T Bank Co. (NYSE:MTB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,420 shares of the financial services provider’s stock, valued at approximately $455,000.

Several other large investors have also recently made changes to their positions in the company. Plato Investment Management Ltd grew its holdings in shares of M&T Bank by 2,300.0% during the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock worth $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in M&T Bank during the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC raised its holdings in M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 68 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in 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 worth $37,000 after purchasing an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of M&T Bank during the 3rd quarter worth approximately $44,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Trading Up 0.4 %

NYSE MTB opened at $196.88 on Friday. The firm’s fifty day moving average price is $202.41 and its 200 day moving average price is $183.49. M&T Bank Co. has a 12 month low of $128.31 and a 12 month high of $225.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $32.67 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.16 and a beta of 0.79.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a return on equity of 9.52% and a net margin of 17.82%. During the same quarter last year, the business earned $2.74 EPS. On average, sell-side analysts expect that M&T Bank Co. will post 14.58 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank’s dividend payout ratio is currently 39.97%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore ISI lifted their price objective on M&T Bank from $210.00 to $232.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wedbush boosted their price target on shares of M&T Bank from $208.00 to $210.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Compass Point raised their price objective on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Wolfe Research upgraded shares of M&T Bank from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Friday, October 4th. Finally, Truist Financial reaffirmed a “buy” rating and set a $236.00 price target (up previously from $233.00) on shares of M&T Bank in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $221.68.

Insider Activity

In other news, CEO Rene F. Jones sold 23,071 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $193.88, for a total transaction of $4,473,005.48. Following the completion of the sale, the chief executive officer now owns 77,226 shares in the company, valued at approximately $14,972,576.88. This represents a 23.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John R. Taylor sold 1,436 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $195.03, for a total value of $280,063.08. Following the completion of the transaction, the executive vice president now owns 5,618 shares in the company, valued at $1,095,678.54. This trade represents a 20.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,994 shares of company stock valued at $17,211,278. 0.82% of the stock is currently owned by company insiders.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.