Virtu Financial LLC Buys Shares of 3,513 M&T Bank Corporation $MTB

Virtu Financial LLC purchased a new position in shares of M&T Bank Corporation (NYSE:MTB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,513 shares of the financial services provider’s stock, valued at approximately $708,000.

Other institutional investors also recently made changes to their positions in the company. Triumph Capital Management acquired a new stake in shares of M&T Bank during the third quarter valued at $32,000. Elyxium Wealth LLC acquired a new position in M&T Bank in the 4th quarter valued at about $33,000. Ameriflex Group Inc. lifted its holdings in M&T Bank by 82.4% in the 3rd quarter. Ameriflex Group Inc. now owns 186 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 84 shares in the last quarter. Bank of Jackson Hole Trust lifted its holdings in M&T Bank by 38.7% in the 4th quarter. Bank of Jackson Hole Trust now owns 215 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 60 shares in the last quarter. Finally, Hoese & Co LLP acquired a new stake in shares of M&T Bank during the 4th quarter worth about $50,000. 84.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MTB shares. Wall Street Zen upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday. Argus raised their target price on shares of M&T Bank from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Robert W. Baird lifted their target price on shares of M&T Bank from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of M&T Bank in a research note on Thursday, June 4th. Finally, Jefferies Financial Group increased their price target on M&T Bank from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, M&T Bank currently has a consensus rating of “Hold” and an average price target of $235.32.

M&T Bank Trading Up 1.1%

Shares of MTB stock opened at $227.48 on Tuesday. The firm has a market cap of $33.32 billion, a P/E ratio of 12.74, a PEG ratio of 1.10 and a beta of 0.58. M&T Bank Corporation has a 1-year low of $174.76 and a 1-year high of $239.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s 50-day simple moving average is $217.34 and its 200-day simple moving average is $214.06.

M&T Bank (NYSE:MTB) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.16. M&T Bank had a net margin of 22.07% and a return on equity of 11.35%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the company earned $3.32 earnings per share. As a group, equities analysts forecast that M&T Bank Corporation will post 18.81 EPS for the current year.

M&T Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 1st will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, June 1st. M&T Bank’s dividend payout ratio (DPR) is 33.59%.

M&T Bank declared that its board has approved a share repurchase program on Tuesday, March 31st that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 16.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, EVP Christopher E. Kay sold 3,105 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $672,232.50. Following the completion of the sale, the executive vice president directly owned 6,753 shares of the company’s stock, valued at $1,462,024.50. The trade was a 31.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.44% of the stock is owned by corporate insiders.

M&T Bank Company Profile

M&T Bank Corporation is a bank holding company headquartered in Buffalo, New York, that provides a broad range of banking and financial services to individuals, businesses and institutions. The company operates a commercial and retail banking franchise that includes deposit-taking, lending, and payment services delivered through branch networks, digital channels and commercial banking teams. M&T serves customers across the northeastern and mid‑Atlantic United States and has expanded its geographic footprint through strategic acquisitions.

Its core businesses include commercial banking for middle‑market and community businesses, consumer and retail banking, mortgage origination and servicing, treasury and cash management, and wealth management and trust services.