5 Financial Stocks to Buy According to Ken Griffin’s Citadel Investment Group

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In this article, we discuss the 5 financial stocks to buy according to Ken Griffin’s Citadel Investment Group. If you want our detailed analysis of these stocks, go directly to the 10 Financial Stocks to Buy According to Ken Griffin’s Citadel Investment Group.

5. M&T Bank Corporation (NYSE:MTB)

Citadel Investment Group’s Stake Value: $249,054,000

Percentage of Citadel Investment Group’s 13F Portfolio: 0.05%

Number of Hedge Fund Holders: 27

M&T Bank Corporation (NYSE:MTB), one of the best financial stocks to buy according to Ken Griffin, announced on November 16 a quarterly cash dividend of $1.20 per share on its common stock. This reflects an increase of 9% from the previous $1.10 per share Q3 dividend. The dividend will be payable on December 31 to shareholders of record on November 30.

The New York-based M&T Bank Corporation (NYSE:MTB) offers customers a range of financial services including retail banking, investment banking, commercial banking, investment management, and private banking. Ken Griffin holds a $249 million position in M&T Bank Corporation (NYSE:MTB) as of the third quarter of 2021. 

On October 20, M&T Bank Corporation (NYSE:MTB) posted solid Q3 results. EPS in the quarter equaled $5.06, topping estimates by $1.56. The quarterly revenue increased 4.97% year-over-year to $1.54 billion, exceeding estimates by $63.21 million. 

Citi analyst Jill Shea raised the firm’s price target on M&T Bank Corporation (NYSE:MTB) to $180 from $170 and reiterated a Buy rating on the shares on October 25, citing the strong Q3 results and M&T Bank Corporation (NYSE:MTB)’s capacity for improved commercial loan growth as reasons for the Buy rating. 

Adage Capital Management is one of the leading M&T Bank Corporation (NYSE:MTB) stakeholders from Q3, with a $137.8 million stake. Overall, 27 hedge funds monitored by Insider Monkey reported owning stakes in M&T Bank Corporation (NYSE:MTB) at the end of September, worth $774.2 million. 

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