Alpha Paradigm Partners LLC Purchases New Shares in M&T Bank Co. (NYSE:MTB)

Alpha Paradigm Partners LLC purchased a new stake in M&T Bank Co. (NYSE:MTB) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,442 shares of the financial services provider’s stock, valued at approximately $355,000.

Other institutional investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd raised its holdings in shares of M&T Bank by 185.4% in the second quarter. Harvest Fund Management Co. Ltd now owns 294 shares of the financial services provider’s stock valued at $43,000 after buying an additional 191 shares during the last quarter. Barrett Asset Management LLC raised its holdings in shares of M&T Bank by 31.3% in the first quarter. Barrett Asset Management LLC now owns 315 shares of the financial services provider’s stock valued at $48,000 after buying an additional 75 shares during the last quarter. Liberty Wealth Management LLC raised its holdings in shares of M&T Bank by 13,963.6% in the second quarter. Liberty Wealth Management LLC now owns 7,735 shares of the financial services provider’s stock valued at $53,000 after buying an additional 7,680 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of M&T Bank by 26.0% in the second quarter. Parallel Advisors LLC now owns 514 shares of the financial services provider’s stock valued at $75,000 after buying an additional 106 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in shares of M&T Bank in the first quarter valued at about $97,000. 85.09% of the stock is owned by institutional investors and hedge funds.

Shares of MTB opened at $149.23 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day simple moving average of $141.84 and a 200 day simple moving average of $147.81. M&T Bank Co. has a 52-week low of $94.67 and a 52-week high of $168.27. The firm has a market capitalization of $19.20 billion, a PE ratio of 11.47 and a beta of 1.20.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Tuesday, July 20th. The financial services provider reported $3.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.70 by ($0.29). M&T Bank had a net margin of 28.58% and a return on equity of 11.70%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm posted $1.76 earnings per share. Equities research analysts predict that M&T Bank Co. will post 13.5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Wednesday, September 1st were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Tuesday, August 31st. M&T Bank’s dividend payout ratio (DPR) is currently 43.91%.

Several brokerages have weighed in on MTB. Wedbush dropped their price objective on M&T Bank from $171.00 to $158.00 and set a “neutral” rating for the company in a report on Thursday, July 22nd. Keefe, Bruyette & Woods raised M&T Bank from a “market perform” rating to an “outperform” rating in a report on Wednesday, July 7th. Zacks Investment Research cut M&T Bank from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a report on Thursday, September 30th. Odeon Capital Group raised M&T Bank from a “sell” rating to a “hold” rating and set a $128.68 price objective for the company in a report on Monday, July 19th. Finally, Morgan Stanley decreased their target price on M&T Bank from $180.00 to $175.00 and set an “equal weight” rating for the company in a research report on Monday, August 2nd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, M&T Bank has a consensus rating of “Hold” and a consensus target price of $159.99.

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

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Institutional Ownership by Quarter for M&T Bank (NYSE:MTB)

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