Aigen Investment Management LP Invests $436,000 in M&T Bank Co. (NYSE:MTB)

Aigen Investment Management LP bought a new position in M&T Bank Co. (NYSE:MTB) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,181 shares of the financial services provider’s stock, valued at approximately $436,000.

Several other institutional investors also recently bought and sold shares of the company. Burns J W & Co. Inc. NY grew its position in M&T Bank by 1.3% during the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after purchasing an additional 80 shares during the last quarter. First Horizon Advisors Inc. grew its position in M&T Bank by 3.2% during the 4th quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 80 shares during the last quarter. Sunbelt Securities Inc. grew its position in M&T Bank by 41.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 100 shares during the last quarter. CI Investments Inc. grew its position in M&T Bank by 2.9% during the 3rd quarter. CI Investments Inc. now owns 3,722 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 104 shares during the last quarter. Finally, Steamboat Capital Partners LLC grew its position in M&T Bank by 1.9% during the 3rd quarter. Steamboat Capital Partners LLC now owns 5,823 shares of the financial services provider’s stock valued at $736,000 after purchasing an additional 109 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Price Performance

Shares of MTB stock traded up $0.21 on Friday, reaching $149.72. The company’s stock had a trading volume of 13,865 shares, compared to its average volume of 1,093,644. The stock’s fifty day simple moving average is $145.08 and its 200-day simple moving average is $138.15. M&T Bank Co. has a 1 year low of $108.53 and a 1 year high of $156.65. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $24.98 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 3.00 and a beta of 0.78.

M&T Bank (NYSE:MTB) last posted its earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the business posted $4.09 earnings per share. Analysts forecast that M&T Bank Co. will post 14.02 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.61%. This is a positive change from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, June 3rd. M&T Bank’s payout ratio is presently 35.16%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Evercore ISI raised their price target on shares of M&T Bank from $146.00 to $157.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. increased their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Morgan Stanley increased their price objective on shares of M&T Bank from $160.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Jefferies Financial Group lowered their price objective on shares of M&T Bank from $154.00 to $151.00 and set a “hold” rating on the stock in a research note on Monday, April 8th. Finally, Wells Fargo & Company raised their target price on shares of M&T Bank from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, M&T Bank has a consensus rating of “Hold” and an average price target of $158.48.

Insiders Place Their Bets

In other news, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction on Monday, March 11th. The stock was sold at an average price of $143.60, for a total transaction of $568,799.60. Following the completion of the sale, the executive vice president now directly owns 5,000 shares in the company, valued at $718,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Doris P. Meister sold 1,638 shares of M&T Bank stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total transaction of $226,387.98. Following the completion of the sale, the executive vice president now directly owns 3,362 shares in the company, valued at $464,662.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Doris P. Meister sold 3,961 shares of M&T Bank stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $143.60, for a total value of $568,799.60. Following the completion of the sale, the executive vice president now owns 5,000 shares of the company’s stock, valued at $718,000. The disclosure for this sale can be found here. Insiders sold 130,359 shares of company stock valued at $19,475,472 over the last three months. 0.82% of the stock is owned by company insiders.

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.