MONECO Advisors LLC Trims Position in M&T Bank Co. (NYSE:MTB)

MONECO Advisors LLC decreased its position in shares of M&T Bank Co. (NYSE:MTB) by 18.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,057 shares of the financial services provider’s stock after selling 457 shares during the period. MONECO Advisors LLC’s holdings in M&T Bank were worth $387,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MTB. Raymond James & Associates increased its position in M&T Bank by 11.0% during the third quarter. Raymond James & Associates now owns 66,209 shares of the financial services provider’s stock worth $11,793,000 after purchasing an additional 6,552 shares during the last quarter. International Assets Investment Management LLC increased its position in M&T Bank by 17,784.1% during the third quarter. International Assets Investment Management LLC now owns 110,166 shares of the financial services provider’s stock worth $19,623,000 after purchasing an additional 109,550 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in M&T Bank by 59.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 5,817 shares of the financial services provider’s stock worth $1,036,000 after purchasing an additional 2,169 shares during the last quarter. Assenagon Asset Management S.A. increased its position in M&T Bank by 8.3% during the third quarter. Assenagon Asset Management S.A. now owns 35,549 shares of the financial services provider’s stock worth $6,332,000 after purchasing an additional 2,736 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in M&T Bank by 6.4% during the third quarter. Ballentine Partners LLC now owns 1,732 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at $3,546,856.81. This represents a 13.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.82% of the stock is currently owned by insiders.

M&T Bank Price Performance

MTB opened at $192.82 on Tuesday. The company has a fifty day simple moving average of $194.95 and a 200 day simple moving average of $190.51. The firm has a market cap of $31.69 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.38 and a beta of 0.79. M&T Bank Co. has a twelve month low of $133.03 and a twelve month high of $225.70. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter last year, the business posted $2.74 earnings per share. Equities research analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank declared that its board has approved a share buyback plan on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 12.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 3rd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.80%. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

Analyst Ratings Changes

MTB has been the subject of several research analyst reports. Compass Point upped their price target on shares of M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. StockNews.com raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group upped their price target on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Truist Financial reissued a “buy” rating and issued a $236.00 price objective (up previously from $233.00) on shares of M&T Bank in a research report on Friday, January 17th. Finally, Barclays increased their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, M&T Bank currently has a consensus rating of “Hold” and an average price target of $221.68.

About M&T Bank

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.