Dupont Capital Management Corp Sells 3,539 Shares of M&T Bank Co. (NYSE:MTB)

Posted by Defense World Staff on Apr 9th, 2023

Dupont Capital Management Corp trimmed its position in shares of M&T Bank Co. (NYSE:MTB – Get Rating) by 44.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,403 shares of the financial services provider’s stock after selling 3,539 shares during the period. Dupont Capital Management Corp’s holdings in M&T Bank were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. SRS Capital Advisors Inc. grew its stake in shares of M&T Bank by 712.5% during the 2nd quarter. SRS Capital Advisors Inc. now owns 195 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 171 shares during the period. Ronald Blue Trust Inc. lifted its holdings in M&T Bank by 148.9% during the third quarter. Ronald Blue Trust Inc. now owns 219 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 131 shares during the last quarter. Affiance Financial LLC bought a new position in M&T Bank during the fourth quarter worth about $35,000. Private Trust Co. NA purchased a new position in shares of M&T Bank in the second quarter worth about $40,000. Finally, CI Investments Inc. raised its position in shares of M&T Bank by 887.5% in the third quarter. CI Investments Inc. now owns 237 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 213 shares during the period. 84.10% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Price Performance

Shares of NYSE:MTB opened at $117.57 on Friday. The company’s fifty day moving average price is $140.72 and its 200-day moving average price is $154.90. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $19.76 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 0.73 and a beta of 0.78. M&T Bank Co. has a one year low of $110.00 and a one year high of $193.42.

M&T Bank (NYSE:MTB – Get Rating) last released its earnings results on Thursday, January 19th. The financial services provider reported $4.57 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.10. M&T Bank had a return on equity of 11.41% and a net margin of 23.15%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the prior year, the firm earned $3.37 earnings per share. On average, equities research analysts anticipate that M&T Bank Co. will post 17.56 earnings per share for the current fiscal year.

M&T Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Monday, March 6th were given a $1.30 dividend. This is an increase from M&T Bank’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Friday, March 3rd. This represents a $5.20 dividend on an annualized basis and a yield of 4.42%. M&T Bank’s payout ratio is presently 45.14%.

Wall Street Analysts Forecast Growth

MTB has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of M&T Bank from $255.00 to $175.00 in a research note on Friday, January 6th. Citigroup upgraded M&T Bank from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $178.00 to $155.00 in a research note on Monday, March 27th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Saturday. Wolfe Research lowered M&T Bank from an “outperform” rating to a “peer perform” rating in a report on Thursday, March 23rd. Finally, Wedbush raised shares of M&T Bank from a “neutral” rating to an “outperform” rating and set a $170.00 price target on the stock in a report on Tuesday, January 3rd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $172.32.

M&T Bank Profile

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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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.