Charles Schwab Investment Management Inc. Increases Position in M&T Bank Co. (NYSE:MTB)

Charles Schwab Investment Management Inc. boosted its position in shares of M&T Bank Co. (NYSE:MTB) by 5.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,289,727 shares of the financial services provider’s stock after buying an additional 252,583 shares during the period. Charles Schwab Investment Management Inc.’s holdings in M&T Bank were worth $994,522,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of M&T Bank by 34.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 2,018 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in M&T Bank during the third quarter worth $44,000. Flagship Harbor Advisors LLC lifted its stake in M&T Bank by 89.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 1,295 shares in the last quarter. Summit Trail Advisors LLC acquired a new position in M&T Bank during the fourth quarter worth $290,000. Finally, Principal Financial Group Inc. lifted its stake in M&T Bank by 1.4% during the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock worth $35,466,000 after purchasing an additional 2,797 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

M&T Bank Stock Performance

NYSE:MTB opened at $188.50 on Tuesday. The firm has a market capitalization of $30.98 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. The business’s fifty day moving average price is $195.01 and its 200 day moving average price is $191.53. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the firm earned $2.74 earnings per share. On average, sell-side analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current fiscal year.

M&T Bank declared that its board has initiated a stock repurchase plan on Wednesday, January 22nd that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 12.3% of its stock through open market purchases. Stock repurchase plans are usually 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 $1.35 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a yield of 2.86%. M&T Bank’s dividend payout ratio is presently 36.91%.

Analyst Upgrades and Downgrades

MTB has been the topic of a number of research reports. Piper Sandler upped their price target on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $223.50 price objective (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Compass Point upped their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Wells Fargo & Company upped their price objective on M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group upped their price objective on M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.