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

M&T Bank Co. (NYSE:MTB) was the recipient of some unusual options trading on Thursday. Investors purchased 750 put options on the company. This is an increase of 849% compared to the typical daily volume of 79 put options.

In related news, EVP D Scott N. Warman sold 4,000 shares of the stock in a transaction dated Thursday, June 3rd. The stock was sold at an average price of $163.00, for a total transaction of $652,000.00. Following the completion of the sale, the executive vice president now owns 14,486 shares in the company, valued at $2,361,218. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michele D. Trolli sold 4,967 shares of the stock in a transaction dated 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 owns 10,622 shares of the company’s stock, valued at approximately $1,654,270.28. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of M&T Bank by 59.1% during the fourth quarter. FMR LLC now owns 10,405,669 shares of the financial services provider’s stock worth $1,324,642,000 after purchasing an additional 3,866,610 shares during the period. JPMorgan Chase & Co. lifted its holdings in M&T Bank by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 4,237,102 shares of the financial services provider’s stock valued at $642,388,000 after acquiring an additional 194,568 shares during the period. Geode Capital Management LLC increased its position in shares of M&T Bank by 4.2% in the first quarter. Geode Capital Management LLC now owns 2,355,807 shares of the financial services provider’s stock valued at $356,271,000 after buying an additional 95,364 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of M&T Bank by 109.4% in the fourth 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of M&T Bank by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,681,538 shares of the financial services provider’s stock valued at $214,061,000 after buying an additional 44,029 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on MTB. Wells Fargo & Company reiterated an “equal weight” rating on shares of M&T Bank in a research report on Tuesday, February 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of M&T Bank from $161.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, April 1st. Jefferies Financial Group reissued a “hold” rating on shares of M&T Bank in a research report on Monday, April 19th. Zacks Investment Research raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Tuesday, April 27th. Finally, Royal Bank of Canada increased their price objective on shares of M&T Bank from $150.00 to $166.00 and gave the company an “outperform” rating in a research report on Tuesday, February 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. M&T Bank presently has a consensus rating of “Hold” and a consensus price target of $160.29.

MTB opened at $153.89 on Friday. M&T Bank has a 52 week low of $88.48 and a 52 week high of $168.27. The stock’s fifty day moving average price is $158.27. The stock has a market capitalization of $19.80 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 0.80 and a beta of 1.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.06.

M&T Bank (NYSE:MTB) last released its earnings results on Sunday, April 18th. The financial services provider reported $3.33 earnings per share (EPS) 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 period last year, the firm earned $1.93 earnings per share. Research analysts expect that M&T Bank will post 13.21 earnings per share for the current year.

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

M&T Bank Company Profile

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: Initial Public Offering (IPO)

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