M&T Bank Corporation $MTB Shares Purchased by Jump Financial LLC

Jump Financial LLC lifted its holdings in M&T Bank Corporation (NYSE:MTB - Free Report) by 3,098.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,735 shares of the financial services provider's stock after acquiring an additional 41,399 shares during the quarter. Jump Financial LLC's holdings in M&T Bank were worth $7,639,000 as of its most recent SEC filing.

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A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Marcum Wealth LLC increased its stake in shares of M&T Bank by 4.9% in the first quarter. Marcum Wealth LLC now owns 1,231 shares of the financial services provider's stock worth $220,000 after acquiring an additional 57 shares during the period. Forum Financial Management LP grew its position in M&T Bank by 2.2% during the fourth quarter. Forum Financial Management LP now owns 2,873 shares of the financial services provider's stock valued at $540,000 after buying an additional 62 shares during the period. Compound Planning Inc. lifted its holdings in M&T Bank by 3.0% during the first quarter. Compound Planning Inc. now owns 2,222 shares of the financial services provider's stock valued at $397,000 after purchasing an additional 64 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in M&T Bank by 4.4% during the first quarter. Checchi Capital Advisers LLC now owns 1,579 shares of the financial services provider's stock valued at $282,000 after purchasing an additional 67 shares in the last quarter. Finally, Investors Research Corp lifted its holdings in M&T Bank by 31.1% during the first quarter. Investors Research Corp now owns 295 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Insiders Place Their Bets

In other news, EVP Peter D'arcy sold 2,461 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $197.31, for a total value of $485,579.91. Following the completion of the transaction, the executive vice president owned 9,319 shares in the company, valued at $1,838,731.89. This trade represents a 20.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert E. Sadler, Jr. sold 6,700 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the completion of the transaction, the director owned 23,070 shares of the company's stock, valued at $4,233,806.40. This represents a 22.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,438 shares of company stock worth $1,967,346. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

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Several research firms have recently weighed in on MTB. Morgan Stanley raised their price target on shares of M&T Bank from $206.00 to $215.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Cowen assumed coverage on shares of M&T Bank in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $200.00 target price on shares of M&T Bank in a research note on Monday, May 19th. Jefferies Financial Group set a $225.00 target price on shares of M&T Bank and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company lifted their price target on shares of M&T Bank from $175.00 to $185.00 and gave the company an "underweight" rating in a research report on Thursday, July 17th. Thirteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, M&T Bank has an average rating of "Moderate Buy" and a consensus target price of $212.88.

Get Our Latest Analysis on MTB

M&T Bank Trading Up 3.7%

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Shares of M&T Bank stock opened at $199.6150 on Monday. The company has a fifty day simple moving average of $192.73 and a 200-day simple moving average of $183.41. M&T Bank Corporation has a 12-month low of $150.75 and a 12-month high of $225.70. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.47. The stock has a market cap of $31.19 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 0.98 and a beta of 0.63.

M&T Bank (NYSE:MTB - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $4.28 EPS for the quarter, topping the consensus estimate of $4.04 by $0.24. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. M&T Bank had a return on equity of 10.35% and a net margin of 20.44%.During the same quarter in the previous year, the company posted $3.73 earnings per share. On average, equities analysts forecast that M&T Bank Corporation will post 16.57 EPS for the current fiscal year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, September 2nd. This is an increase from M&T Bank's previous quarterly dividend of $1.35. M&T Bank's payout ratio is currently 34.97%.

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.

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