Integrated Quantitative Investments LLC Makes New Investment in M&T Bank Co. (NYSE:MTB)

Integrated Quantitative Investments LLC bought a new position in shares of M&T Bank Co. (NYSE:MTB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,070 shares of the financial services provider’s stock, valued at approximately $389,000.

A number of other hedge funds have also modified their holdings of the business. Y.D. More Investments Ltd grew its stake in M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC purchased a new stake in shares of M&T Bank in the fourth quarter valued at approximately $44,000. Sierra Ocean LLC acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $44,000. Loomis Sayles & Co. L P acquired a new stake in shares of M&T Bank in the fourth quarter valued at approximately $52,000. Finally, Principal Securities Inc. lifted its position in M&T Bank by 47.5% during the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock worth $77,000 after buying an additional 132 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wells Fargo & Company cut their target price on M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a research note on Friday, March 28th. Barclays lifted their target price on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Citigroup reduced their price target on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Finally, DA Davidson increased their price objective on M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, M&T Bank presently has an average rating of “Hold” and a consensus target price of $215.97.

Insider Buying and Selling at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares of the company’s stock, valued at $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

M&T Bank Price Performance

Shares of MTB opened at $157.13 on Friday. The company has a market cap of $25.82 billion, a P/E ratio of 10.74, a PEG ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average price is $186.82 and its 200 day moving average price is $192.54.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the company earned $2.74 EPS. On average, research analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 3rd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

M&T Bank announced that its board has authorized a stock repurchase program on Wednesday, January 22nd that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

About M&T Bank

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.