M&T Bank Target of Unusually Large Options Trading (NYSE:MTB)

M&T Bank Co. (NYSE:MTB) saw unusually large options trading on Thursday. Investors purchased 750 put options on the company. This is an increase of 849% compared to the average volume of 79 put options.

In other news, EVP D Scott N. Warman sold 4,000 shares of the business’s stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $163.00, for a total transaction of $652,000.00. Following the sale, the executive vice president now directly owns 14,486 shares of the company’s stock, valued at $2,361,218. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michele D. Trolli sold 4,967 shares of the business’s stock in a transaction on Tuesday, April 27th. The stock was sold at an average price of $155.74, for a total value of $773,560.58. Following the sale, the executive vice president now directly owns 10,622 shares in the company, valued at $1,654,270.28. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in MTB. FMR LLC increased its holdings in M&T Bank by 59.1% during the 4th quarter. FMR LLC now owns 10,405,669 shares of the financial services provider’s stock valued at $1,324,642,000 after purchasing an additional 3,866,610 shares in the last quarter. Norges Bank bought a new position in M&T Bank in the 4th quarter valued at $174,481,000. Select Equity Group L.P. bought a new position in M&T Bank in the 1st quarter valued at $154,892,000. Principal Financial Group Inc. boosted its position in M&T Bank by 109.4% in the 4th quarter. Principal Financial Group Inc. now owns 1,780,883 shares of the financial services provider’s stock valued at $226,706,000 after buying an additional 930,426 shares during the last quarter. Finally, Amundi Asset Management US Inc. boosted its position in M&T Bank by 131.8% in the 1st quarter. Amundi Asset Management US Inc. now owns 1,189,344 shares of the financial services provider’s stock valued at $180,318,000 after buying an additional 676,212 shares during the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.

Shares of MTB opened at $153.89 on Friday. M&T Bank has a 1 year low of $88.48 and a 1 year high of $168.27. 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 moving average of $158.27. The firm has a market cap of $19.80 billion, a PE ratio of 13.57, a PEG ratio of 0.80 and a beta of 1.20.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Sunday, April 18th. The financial services provider reported $3.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.00 by $0.33. M&T Bank had a return on equity of 10.39% and a net margin of 24.89%. During the same quarter in the previous year, the business posted $1.93 earnings per share. As a group, analysts anticipate that M&T Bank will post 13.21 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 1st will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, May 28th. This represents a $4.40 dividend on an annualized basis and a yield of 2.86%. M&T Bank’s dividend payout ratio is 43.91%.

Several research firms recently weighed in on MTB. Morgan Stanley upped their price target on M&T Bank from $175.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, April 29th. Wells Fargo & Company reissued an “equal weight” rating on shares of M&T Bank in a research report on Tuesday, February 23rd. Deutsche Bank Aktiengesellschaft upped their price target on M&T Bank from $161.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, April 1st. Royal Bank of Canada upped their price target on M&T Bank from $150.00 to $166.00 and gave the company an “outperform” rating in a research report on Tuesday, February 23rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of M&T Bank in a research report on Monday, April 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. M&T Bank currently has an average rating of “Hold” and a consensus target price of $160.29.

About M&T Bank

M&T Bank Corporation operates as a bank holding company that provides commercial and retail banking services. The company's Business Banking segment offers deposit, lending, cash management, and other financial services to small businesses and professionals. Its Commercial Banking segment provides deposit products, commercial lending and leasing, letters of credit, and cash management services for middle-market and large commercial customers.

See Also: Dividend Reinvestment Plan (DRIP)

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