WINTON GROUP Ltd Grows Position in M&T Bank Corporation $MTB

WINTON GROUP Ltd boosted its holdings in M&T Bank Corporation (NYSE:MTB) by 310.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 23,159 shares of the financial services provider’s stock after acquiring an additional 17,515 shares during the quarter. WINTON GROUP Ltd’s holdings in M&T Bank were worth $5,512,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in shares of M&T Bank by 23,449.1% during the 2nd quarter. California State Teachers Retirement System now owns 50,491,441 shares of the financial services provider’s stock worth $12,017,468,000 after purchasing an additional 50,277,032 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of M&T Bank by 3.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,416,224 shares of the financial services provider’s stock valued at $285,341,000 after purchasing an additional 49,336 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in M&T Bank by 2.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,060,517 shares of the financial services provider’s stock worth $252,414,000 after buying an additional 26,486 shares in the last quarter. Barclays PLC boosted its holdings in M&T Bank by 3.9% during the fourth quarter. Barclays PLC now owns 530,305 shares of the financial services provider’s stock worth $106,846,000 after buying an additional 20,120 shares in the last quarter. Finally, Davis Asset Management L.P. acquired a new position in M&T Bank during the second quarter worth about $97,584,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of M&T Bank from $236.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Truist Financial upped their price target on M&T Bank from $230.00 to $268.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of M&T Bank in a research note on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft cut M&T Bank from a “buy” rating to a “hold” rating and set a $250.00 price objective for the company. in a report on Thursday, July 23rd. Finally, Evercore set a $260.00 target price on M&T Bank in a research report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $255.97.

Insiders Place Their Bets

In other news, Director Rudina Seseri sold 623 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the transaction, the director directly owned 3,649 shares of the company’s stock, valued at $879,554.96. The trade was a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.44% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB opened at $239.06 on Friday. M&T Bank Corporation has a 12-month low of $174.76 and a 12-month high of $255.95. The stock has a market cap of $34.53 billion, a P/E ratio of 12.62, a PEG ratio of 1.35 and a beta of 0.56. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $244.84 and a two-hundred day moving average of $226.16.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $5.35 EPS for the quarter, beating the consensus estimate of $4.66 by $0.69. M&T Bank had a net margin of 22.72% and a return on equity of 11.80%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the business earned $4.28 earnings per share. As a group, research analysts predict that M&T Bank Corporation will post 19.45 EPS for the current fiscal year.

M&T Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st will be paid a $1.50 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a yield of 2.5%. M&T Bank’s dividend payout ratio is presently 31.68%.

M&T Bank Profile

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Its principal banking subsidiary, Manufacturers and Traders Trust Company, commonly known as M&T Bank, provides financial products and services to individuals, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management and other business banking services.