Natixis Advisors LLC Has $33.04 Million Position in M&T Bank Co. (NYSE:MTB)

Natixis Advisors LLC reduced its holdings in shares of M&T Bank Co. (NYSE:MTB) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 175,722 shares of the financial services provider’s stock after selling 20,157 shares during the period. Natixis Advisors LLC owned about 0.11% of M&T Bank worth $33,037,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Y.D. More Investments Ltd boosted its position in shares of M&T Bank by 122.6% during the 4th quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 114 shares in the last quarter. Human Investing LLC acquired a new stake in shares of M&T Bank during the 4th quarter valued at about $44,000. Sierra Ocean LLC acquired a new position in M&T Bank in the fourth quarter valued at about $44,000. Principal Securities Inc. boosted its position in M&T Bank by 47.5% in the fourth quarter. Principal Securities Inc. now owns 410 shares of the financial services provider’s stock valued at $77,000 after buying an additional 132 shares in the last quarter. Finally, Kentucky Trust Co acquired a new position in M&T Bank in the fourth quarter valued at about $92,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now owns 10,751 shares of the company’s stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

M&T Bank Trading Up 3.1 %

MTB opened at $175.69 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. The company has a market cap of $28.86 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The firm has a 50 day simple moving average of $192.44 and a 200 day simple moving average of $192.15. M&T Bank Co. has a fifty-two week low of $133.03 and a fifty-two week high of $225.70.

M&T Bank (NYSE:MTB) last posted 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 net margin of 19.24% and a return on equity of 10.12%. During the same quarter in the prior year, the business 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 year.

M&T Bank announced that its Board of Directors has approved a stock buyback plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 12.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

M&T Bank Dividend Announcement

The company also recently announced 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. This represents a $5.40 annualized dividend and a yield of 3.07%. The ex-dividend date is Monday, March 3rd. M&T Bank’s payout ratio is presently 36.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MTB shares. Compass Point boosted their price target on shares of M&T Bank from $220.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group boosted their price target on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Barclays boosted their price target on shares of M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Citigroup lowered shares of M&T Bank from a “buy” rating to a “neutral” rating and boosted their price target for the company from $220.00 to $230.00 in a research report on Monday, November 25th. Finally, Piper Sandler boosted their price target on shares of M&T Bank from $205.00 to $243.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. 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’s stock. According to data from MarketBeat.com, M&T Bank currently has an average rating of “Hold” and an average target price of $222.03.

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.