M&T Bank Co. (NYSE:MTB) Shares Sold by Qtron Investments LLC

Qtron Investments LLC reduced its stake in M&T Bank Co. (NYSE:MTB) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,625 shares of the financial services provider’s stock after selling 521 shares during the period. Qtron Investments LLC’s holdings in M&T Bank were worth $682,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. purchased a new stake in shares of M&T Bank during the 4th quarter valued at about $2,035,000. Argent Trust Co grew its position in M&T Bank by 28.9% in the fourth quarter. Argent Trust Co now owns 1,956 shares of the financial services provider’s stock valued at $368,000 after acquiring an additional 439 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of M&T Bank by 0.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 75,012 shares of the financial services provider’s stock valued at $14,103,000 after purchasing an additional 330 shares during the period. Scotia Capital Inc. acquired a new position in shares of M&T Bank during the fourth quarter worth $1,356,000. Finally, Cutler Capital Management LLC boosted its stake in shares of M&T Bank by 4.8% in the fourth quarter. Cutler Capital Management LLC now owns 3,179 shares of the financial services provider’s stock valued at $598,000 after purchasing an additional 145 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

M&T Bank Trading Down 0.0 %

NYSE MTB opened at $157.82 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a one year low of $133.08 and a one year high of $225.70. The company has a 50-day simple moving average of $181.27 and a 200-day simple moving average of $191.77. The firm has a market capitalization of $25.93 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.38 and a beta of 0.58.

M&T Bank (NYSE:MTB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS 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 company earned $2.74 earnings per share. On average, equities analysts forecast that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank announced that its board has approved a stock repurchase plan 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 repurchase up to 12.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

M&T Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 3rd were paid a dividend of $1.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 3.42%. M&T Bank’s payout ratio is currently 36.91%.

Insiders Place Their Bets

In other news, EVP Christopher E. Kay sold 1,738 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the completion of the transaction, the executive vice president now owns 10,751 shares in the company, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MTB has been the topic of a number of recent analyst reports. Barclays boosted their price objective on shares of M&T Bank from $228.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Citigroup cut their price target on M&T Bank from $230.00 to $195.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Wells Fargo & Company lowered their price objective on M&T Bank from $205.00 to $185.00 and set an “underweight” rating for the company in a research note on Friday, March 28th. Truist Financial cut their target price on M&T Bank from $236.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Finally, Evercore ISI decreased their price target on shares of M&T Bank from $234.00 to $205.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $215.97.

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.