M&T Bank Co. (NYSE:MTB) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its position in M&T Bank Co. (NYSE:MTB) by 12.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,489,161 shares of the financial services provider’s stock after selling 208,179 shares during the quarter. M&T Bank accounts for 0.9% of M&T Bank Corp’s holdings, making the stock its 20th largest holding. M&T Bank Corp’s holdings in M&T Bank were worth $279,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTB. Sanctuary Advisors LLC lifted its stake in shares of M&T Bank by 0.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,819 shares of the financial services provider’s stock worth $3,195,000 after purchasing an additional 52 shares in the last quarter. Catalina Capital Group LLC increased its position in shares of M&T Bank by 2.0% during the fourth quarter. Catalina Capital Group LLC now owns 2,824 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 56 shares during the last quarter. Crestwood Advisors Group LLC increased its position in shares of M&T Bank by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 57 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its position in shares of M&T Bank by 1.2% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 5,188 shares of the financial services provider’s stock worth $975,000 after acquiring an additional 63 shares during the last quarter. Finally, Meridian Wealth Management LLC increased its position in shares of M&T Bank by 3.8% during the fourth quarter. Meridian Wealth Management LLC now owns 1,786 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MTB shares. Compass Point lifted their target price 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. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 price objective (up from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. StockNews.com raised M&T Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. 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, January 17th. Finally, Citigroup lowered M&T Bank from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $220.00 to $230.00 in a report on Monday, November 25th. 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.com, M&T Bank presently has a consensus rating of “Hold” and a consensus target price of $221.68.

M&T Bank Stock Down 3.9 %

MTB stock opened at $181.36 on Wednesday. The firm has a market cap of $29.80 billion, a PE ratio of 12.40, a PEG ratio of 1.38 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 fifty day simple moving average of $194.82 and a 200 day simple moving average of $191.66. 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 issued its quarterly earnings data 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 return on equity of 10.12% and a net margin of 19.24%. During the same period in the prior year, the business posted $2.74 EPS. Sell-side analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s payout ratio is currently 36.91%.

M&T Bank declared that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

M&T Bank Company 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.