Hudson Edge Investment Partners Inc. Purchases 180 Shares of M&T Bank Co. (NYSE:MTB)

Hudson Edge Investment Partners Inc. raised its holdings in shares of M&T Bank Co. (NYSE:MTB) by 0.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 35,630 shares of the financial services provider’s stock after buying an additional 180 shares during the period. M&T Bank makes up approximately 1.2% of Hudson Edge Investment Partners Inc.’s portfolio, making the stock its 17th largest position. Hudson Edge Investment Partners Inc.’s holdings in M&T Bank were worth $6,699,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Plato Investment Management Ltd grew its position in M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 161 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of M&T Bank during the 3rd quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 158 shares in the last quarter. Y.D. More Investments Ltd increased its position in shares of M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 114 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in M&T Bank during the third quarter worth about $44,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

M&T Bank Stock Performance

NYSE:MTB opened at $193.48 on Friday. The stock has a 50 day simple moving average of $195.09 and a 200 day simple moving average of $189.87. The stock has a market cap of $32.10 billion, a P/E ratio of 13.23, a PEG ratio of 1.40 and a beta of 0.79. M&T Bank Co. has a 1-year low of $133.03 and a 1-year high of $225.70. The company has a current ratio of 0.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the prior year, the company earned $2.74 earnings per share. Research analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank announced that its Board of Directors has initiated a share repurchase program on Wednesday, January 22nd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

M&T Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio is currently 36.91%.

Insiders Place Their Bets

In other news, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $220.75, for a total transaction of $468,210.75. Following the completion of the sale, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. This represents a 29.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $215.89, for a total value of $537,566.10. Following the sale, the insider now directly owns 16,429 shares in the company, valued at approximately $3,546,856.81. This trade represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on M&T Bank from $205.00 to $221.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Evercore ISI raised their target price on shares of M&T Bank from $210.00 to $232.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler upped their price target on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. StockNews.com upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and upped their target price for the company from $220.00 to $230.00 in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $221.68.

M&T Bank 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 the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.