38,610 M&T Bank Corporation $MTB Shares Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. grew its position in M&T Bank Corporation (NYSE:MTB) by 823.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,300 shares of the financial services provider’s stock after purchasing an additional 38,610 shares during the period. Jefferies Financial Group Inc.’s holdings in M&T Bank were worth $9,422,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Davis Investment Partners LLC lifted its holdings in M&T Bank by 9.8% during the third quarter. Davis Investment Partners LLC now owns 1,348 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 120 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of M&T Bank by 114.4% during the third quarter. Illinois Municipal Retirement Fund now owns 34,289 shares of the financial services provider’s stock worth $7,461,000 after purchasing an additional 18,298 shares during the period. Confluence Wealth Services Inc. raised its position in shares of M&T Bank by 107.3% during the third quarter. Confluence Wealth Services Inc. now owns 4,374 shares of the financial services provider’s stock worth $952,000 after purchasing an additional 2,264 shares during the period. Lido Advisors LLC lifted its holdings in shares of M&T Bank by 26.5% during the 3rd quarter. Lido Advisors LLC now owns 9,788 shares of the financial services provider’s stock valued at $2,130,000 after purchasing an additional 2,052 shares in the last quarter. Finally, Keybank National Association OH lifted its holdings in shares of M&T Bank by 2.2% during the 3rd quarter. Keybank National Association OH now owns 3,450 shares of the financial services provider’s stock valued at $751,000 after purchasing an additional 73 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MTB shares. Evercore set a $230.00 price objective on M&T Bank in a research report on Thursday, October 1st. Cantor Fitzgerald lowered their target price on M&T Bank from $285.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, October 14th. JPMorgan Chase & Co. dropped their target price on shares of M&T Bank from $265.50 to $248.50 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of M&T Bank in a research note on Tuesday, September 1st. Finally, Robert W. Baird lifted their price target on shares of M&T Bank from $240.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $244.89.

Insider Buying and Selling

In related news, CEO René Jones sold 19,396 shares of M&T Bank stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $239.35, for a total value of $4,642,432.60. Following the sale, the chief executive officer owned 103,831 shares of the company’s stock, valued at approximately $24,851,949.85. This trade represents a 15.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rudina Seseri sold 623 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $241.04, for a total value of $150,167.92. Following the completion of the sale, the director owned 3,649 shares in the company, valued at $879,554.96. The trade was a 14.58% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.44% of the stock is currently owned by company insiders.

M&T Bank Price Performance

MTB stock opened at $220.33 on Thursday. The stock has a 50-day moving average price of $223.55 and a two-hundred day moving average price of $225.36. The stock has a market cap of $31.60 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.27 and a beta of 0.64. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.54. M&T Bank Corporation has a 1 year low of $179.75 and a 1 year high of $255.95.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Friday, October 16th. The financial services provider reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.93 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.53 billion. M&T Bank had a return on equity of 11.86% and a net margin of 22.63%. During the same period in the previous year, the company posted $4.82 earnings per share. Equities analysts forecast that M&T Bank Corporation will post 19.48 EPS for the current fiscal year.

M&T Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 1st were issued a dividend of $1.50 per share. The ex-dividend date was Tuesday, September 1st. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.7%. M&T Bank’s dividend payout ratio (DPR) is presently 31.32%.

About M&T Bank

M&T Bank Corporation is a regional financial holding company headquartered in Buffalo, New York. Founded in 1856 as Manufacturers and Traders Bank, the company operates primarily through M&T Bank and its wealth-management subsidiary, Wilmington Trust. M&T provides retail and commercial banking services, including checking and savings accounts, loans, mortgages, credit cards, and cash-management services. Through Wilmington Trust and other businesses, it also offers wealth management, trust, investment, and related financial services.