VAUGHAN & Co SECURITIES INC. Has $703,000 Stock Holdings in M&T Bank Co. (NYSE:MTB)

VAUGHAN & Co SECURITIES INC. lessened its position in shares of M&T Bank Co. (NYSE:MTB) by 7.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,739 shares of the financial services provider’s stock after selling 298 shares during the quarter. VAUGHAN & Co SECURITIES INC.’s holdings in M&T Bank were worth $703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTB. Hennion & Walsh Asset Management Inc. lifted its stake in shares of M&T Bank by 34.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider’s stock valued at $1,473,000 after purchasing an additional 2,018 shares during the period. Capital Performance Advisors LLP purchased a new stake in M&T Bank in the 3rd quarter valued at about $44,000. Flagship Harbor Advisors LLC increased its position in shares of M&T Bank by 89.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 1,295 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of M&T Bank by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider’s stock worth $35,466,000 after buying an additional 2,797 shares during the last quarter. Finally, Smead Capital Management Inc. increased its holdings in M&T Bank by 3.5% during the third quarter. Smead Capital Management Inc. now owns 493,817 shares of the financial services provider’s stock worth $87,959,000 after buying an additional 16,657 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Tracy S. Woodrow sold 2,121 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of M&T Bank stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,397 shares of company stock worth $6,379,459. 0.82% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MTB. The Goldman Sachs Group lifted their target price on shares of M&T Bank from $216.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. DA Davidson boosted their target price on shares of M&T Bank from $222.00 to $223.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Piper Sandler raised their price target on M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods increased their price objective on M&T Bank from $205.00 to $221.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Citigroup cut M&T Bank from a “buy” rating to a “neutral” rating and upped their price target for the company from $220.00 to $230.00 in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $221.68.

M&T Bank Price Performance

Shares of M&T Bank stock opened at $198.67 on Thursday. The stock has a market capitalization of $32.96 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.41 and a beta of 0.79. The company has a fifty day moving average of $198.31 and a 200-day moving average of $187.54. M&T Bank Co. has a 52-week low of $128.31 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share for the quarter, beating the consensus estimate 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 previous year, the firm posted $2.74 earnings per share. Equities research analysts expect that M&T Bank Co. will post 16.56 EPS for the current year.

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

M&T Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a yield of 2.72%. M&T Bank’s payout ratio is currently 36.91%.

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.