Trexquant Investment LP Purchases 12,914 Shares of M&T Bank Co. (NYSE:MTB)

Trexquant Investment LP boosted its holdings in shares of M&T Bank Co. (NYSE:MTB) by 74.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,291 shares of the financial services provider’s stock after purchasing an additional 12,914 shares during the period. Trexquant Investment LP’s holdings in M&T Bank were worth $5,695,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC raised its stake in shares of M&T Bank by 2,338.2% during the fourth quarter. Headlands Technologies LLC now owns 1,658 shares of the financial services provider’s stock worth $312,000 after buying an additional 1,590 shares during the last quarter. Geode Capital Management LLC grew its holdings in M&T Bank by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider’s stock worth $819,768,000 after acquiring an additional 40,948 shares during the period. Franklin Resources Inc. raised its position in shares of M&T Bank by 84.9% during the 4th quarter. Franklin Resources Inc. now owns 39,726 shares of the financial services provider’s stock valued at $7,469,000 after acquiring an additional 18,245 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its stake in shares of M&T Bank by 81.0% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 15,888 shares of the financial services provider’s stock valued at $2,987,000 after purchasing an additional 7,109 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of M&T Bank by 17.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 46,261 shares of the financial services provider’s stock worth $8,698,000 after purchasing an additional 6,834 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

NYSE MTB opened at $157.13 on Friday. The stock has a market cap of $25.82 billion, a PE ratio of 10.74, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. The firm has a 50-day moving average of $186.82 and a 200-day moving average of $192.54. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the prior year, the firm earned $2.74 earnings per share. On average, sell-side analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank Announces Dividend

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

M&T Bank announced that its board has initiated a share buyback plan on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a report on Friday, March 28th. Citigroup dropped their price target on 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. StockNews.com upgraded M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. DA Davidson lifted their price target on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $215.97.

Insider Activity at M&T Bank

In other news, EVP Christopher E. Kay sold 1,738 shares of M&T Bank stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This trade represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Profile

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.