Zions Bancorporation N.A. Has $250,000 Holdings in M&T Bank Co. (NYSE:MTB)

Zions Bancorporation N.A. grew its position in M&T Bank Co. (NYSE:MTB) by 226.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,332 shares of the financial services provider’s stock after buying an additional 924 shares during the quarter. Zions Bancorporation N.A.’s holdings in M&T Bank were worth $250,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. TIAA Trust National Association lifted its holdings in shares of M&T Bank by 1.1% in the fourth quarter. TIAA Trust National Association now owns 6,190 shares of the financial services provider’s stock valued at $1,164,000 after purchasing an additional 70 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of M&T Bank by 30.5% in the fourth quarter. Prudential Financial Inc. now owns 149,681 shares of the financial services provider’s stock worth $28,142,000 after purchasing an additional 35,001 shares in the last quarter. Congress Wealth Management LLC DE acquired a new stake in shares of M&T Bank during the fourth quarter worth approximately $334,000. Stevens Capital Management LP purchased a new position in M&T Bank during the fourth quarter valued at approximately $986,000. Finally, LPL Financial LLC increased its stake in M&T Bank by 3.8% in the 4th quarter. LPL Financial LLC now owns 114,066 shares of the financial services provider’s stock valued at $21,446,000 after buying an additional 4,163 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $172.34, for a total value of $299,526.92. Following the sale, the executive vice president now directly owns 10,751 shares in the company, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MTB. Citigroup lowered their price target on shares of M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a report on Monday. Barclays boosted their target price on M&T Bank from $228.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Morgan Stanley cut their price target on M&T Bank from $269.00 to $253.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Evercore ISI lowered their price target on M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Finally, Compass Point increased their price objective on M&T Bank from $220.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $219.97.

M&T Bank Stock Down 0.5 %

MTB stock opened at $182.10 on Thursday. 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 50-day moving average of $190.20 and a two-hundred day moving average of $192.48. The stock has a market capitalization of $29.92 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. M&T Bank Co. has a 52-week low of $133.03 and a 52-week high of $225.70.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping 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 company posted $2.74 earnings per share. As a group, equities research analysts anticipate that M&T Bank Co. will post 16.57 EPS for the current year.

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

M&T Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 3rd will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.97%. The ex-dividend date is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is presently 36.91%.

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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.