XTX Topco Ltd Buys New Position in M&T Bank Co. (NYSE:MTB)

XTX Topco Ltd purchased a new position in M&T Bank Co. (NYSE:MTB) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,623 shares of the financial services provider’s stock, valued at approximately $1,154,000.

Several other large investors also recently made changes to their positions in MTB. Sienna Gestion purchased a new position in M&T Bank during the 2nd quarter worth approximately $7,497,000. Hsbc Holdings PLC boosted its holdings in shares of M&T Bank by 0.3% during the second quarter. Hsbc Holdings PLC now owns 436,225 shares of the financial services provider’s stock worth $66,097,000 after purchasing an additional 1,298 shares during the period. Elo Mutual Pension Insurance Co purchased a new position in M&T Bank during the second quarter valued at approximately $2,156,000. Blair William & Co. IL grew its position in M&T Bank by 26.3% during the second quarter. Blair William & Co. IL now owns 6,982 shares of the financial services provider’s stock valued at $1,057,000 after purchasing an additional 1,453 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in M&T Bank by 31.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,530 shares of the financial services provider’s stock worth $1,706,000 after buying an additional 2,766 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In other M&T Bank news, Director Denis J. Salamone sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total value of $1,720,300.00. Following the completion of the transaction, the director now owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Vice Chairman Gary N. Geisel sold 500 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now owns 16,429 shares of the company’s stock, valued at $2,834,002.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Denis J. Salamone sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $172.03, for a total transaction of $1,720,300.00. Following the completion of the transaction, the director now directly owns 44,902 shares of the company’s stock, valued at approximately $7,724,491.06. The disclosure for this sale can be found here. Insiders have sold a total of 32,699 shares of company stock valued at $5,115,349 over the last three months. 0.82% of the stock is owned by corporate insiders.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $179.56 on Friday. M&T Bank Co. has a 12 month low of $108.53 and a 12 month high of $180.25. The company has a market cap of $29.96 billion, a P/E ratio of 12.14, a P/E/G ratio of 3.32 and a beta of 0.76. The business’s 50 day moving average is $167.47 and its two-hundred day moving average is $153.44. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.44.

M&T Bank (NYSE:MTB) last announced its earnings results on Thursday, July 18th. The financial services provider reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. M&T Bank had a net margin of 17.84% and a return on equity of 9.62%. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the firm posted $5.12 earnings per share. On average, equities analysts expect that M&T Bank Co. will post 14.24 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Tuesday, September 3rd. M&T Bank’s payout ratio is presently 36.51%.

Analysts Set New Price Targets

Several equities analysts have recently commented on MTB shares. Keefe, Bruyette & Woods boosted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Bank of America raised their price target on M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Citigroup raised their price objective on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Evercore ISI boosted their target price on shares of M&T Bank from $157.00 to $168.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $175.85.

M&T Bank Profile

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.