M&T Bank Co. (NYSE:MTB) Stock Position Raised by Jackson Square Capital LLC

Jackson Square Capital LLC increased its holdings in shares of M&T Bank Co. (NYSE:MTB) by 36.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,762 shares of the financial services provider’s stock after acquiring an additional 1,279 shares during the quarter. Jackson Square Capital LLC’s holdings in M&T Bank were worth $895,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MTB. HB Wealth Management LLC raised its position in shares of M&T Bank by 6.8% during the 4th quarter. HB Wealth Management LLC now owns 2,672 shares of the financial services provider’s stock worth $502,000 after purchasing an additional 170 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. increased its position in M&T Bank by 1.6% in the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 12,400 shares of the financial services provider’s stock worth $2,331,000 after buying an additional 200 shares during the period. O Keefe Stevens Advisory Inc. lifted its stake in M&T Bank by 1.7% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 43,653 shares of the financial services provider’s stock valued at $8,207,000 after buying an additional 740 shares during the last quarter. Merit Financial Group LLC boosted its holdings in shares of M&T Bank by 46.0% during the fourth quarter. Merit Financial Group LLC now owns 1,889 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 595 shares during the period. Finally, Avanza Fonder AB bought a new position in shares of M&T Bank during the fourth quarter worth about $2,590,000. Institutional investors own 84.68% of the company’s stock.

M&T Bank Stock Performance

Shares of NYSE MTB opened at $196.88 on Friday. The stock’s fifty day simple moving average is $202.41 and its 200 day simple moving average is $183.49. The stock has a market capitalization of $32.67 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.16 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.44. M&T Bank Co. has a 52-week low of $128.31 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last issued its quarterly 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 9.52% and a net margin of 17.82%. During the same period in the previous year, the company posted $2.74 EPS. As a group, sell-side analysts forecast that M&T Bank Co. will post 14.58 earnings per share for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.74%. M&T Bank’s dividend payout ratio is currently 39.97%.

Analyst Ratings Changes

A number of research analysts have issued reports on MTB shares. Bank of America boosted their target price on shares of M&T Bank from $188.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Truist Financial reissued a “buy” rating and issued a $236.00 price objective (up from $233.00) on shares of M&T Bank in a report on Friday. Wells Fargo & Company lifted their target price on M&T Bank from $190.00 to $205.00 and gave the company an “underweight” rating in a research note on Friday, November 15th. Compass Point increased their price target on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Citigroup cut shares of M&T Bank from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $220.00 to $230.00 in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $221.68.

Insider Activity at M&T Bank

In other news, 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 completion of the sale, the insider now owns 16,429 shares in the company, valued at $3,546,856.81. This represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Barnes sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the transaction, the director now directly owns 49,960 shares in the company, valued at $9,690,741.20. The trade was a 28.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,994 shares of company stock worth $17,211,278. 0.82% of the stock is owned by corporate insiders.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.