Headlands Technologies LLC Has $312,000 Holdings in M&T Bank Co. (NYSE:MTB)

Headlands Technologies LLC grew its position in M&T Bank Co. (NYSE:MTB) by 2,338.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,658 shares of the financial services provider’s stock after buying an additional 1,590 shares during the quarter. Headlands Technologies LLC’s holdings in M&T Bank were worth $312,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC grew its position in M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after buying an additional 52 shares in the last quarter. Catalina Capital Group LLC grew its holdings in shares of M&T Bank by 2.0% during the 4th quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after purchasing an additional 56 shares in the last quarter. Parallel Advisors LLC increased its position in shares of M&T Bank by 1.7% during the fourth quarter. Parallel Advisors LLC now owns 3,512 shares of the financial services provider’s stock valued at $660,000 after purchasing an additional 60 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of M&T Bank by 1.2% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider’s stock valued at $975,000 after purchasing an additional 63 shares in the last quarter. Finally, Meridian Wealth Management LLC lifted its position in M&T Bank by 3.8% in the fourth quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 66 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

MTB has been the topic of several analyst reports. Compass Point boosted their price target on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. DA Davidson lifted their target price 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. JPMorgan Chase & Co. reduced their price target on shares of M&T Bank from $212.50 to $186.50 and set a “neutral” rating on the stock in a research report on Thursday. Evercore ISI cut their target price on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Finally, Truist Financial reduced their price target on M&T Bank from $236.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and an average price target of $215.97.

M&T Bank Trading Down 3.8 %

MTB opened at $157.13 on Friday. The stock has a market capitalization of $25.82 billion, a P/E ratio of 10.74, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The firm’s fifty day simple moving average is $186.82 and its 200 day simple moving average is $192.54.

M&T Bank (NYSE:MTB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same period last year, the business earned $2.74 EPS. As a group, research analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

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

M&T Bank Dividend Announcement

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

M&T Bank Company 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.