Rockefeller Capital Management L.P. Invests $2.04 Million in M&T Bank Co. (NYSE:MTB)

Rockefeller Capital Management L.P. acquired a new position in M&T Bank Co. (NYSE:MTB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,854 shares of the financial services provider's stock, valued at approximately $2,035,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MTB. Y.D. More Investments Ltd grew its stake in shares of M&T Bank by 122.6% during the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after purchasing an additional 114 shares during the period. Human Investing LLC acquired a new position in shares of M&T Bank during the 4th quarter worth about $44,000. Sierra Ocean LLC bought a new stake in shares of M&T Bank in the 4th quarter valued at about $44,000. Loomis Sayles & Co. L P bought a new stake in shares of M&T Bank in the 4th quarter valued at about $52,000. Finally, Principal Securities Inc. raised its position in shares of M&T Bank by 47.5% in the 4th quarter. Principal Securities Inc. now owns 410 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 132 shares during the period. 84.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MTB has been the topic of several analyst reports. StockNews.com upgraded shares of M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on M&T Bank from $212.50 to $186.50 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Evercore ISI decreased their target price 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. Wells Fargo & Company dropped their price target on M&T Bank from $185.00 to $175.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Piper Sandler reduced their price target on shares of M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $208.14.

Insider Activity at M&T Bank

In other M&T Bank news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total transaction of $299,526.92. Following the transaction, the executive vice president now owns 10,751 shares in the company, valued at $1,852,827.34. This represents a 13.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

M&T Bank Stock Performance

Shares of MTB stock traded up $3.56 on Wednesday, reaching $165.56. The stock had a trading volume of 1,217,332 shares, compared to its average volume of 1,116,652. The firm's 50-day moving average is $175.73 and its two-hundred day moving average is $191.00. The firm has a market capitalization of $27.20 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 1.38 and a beta of 0.58. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.47. M&T Bank Co. has a 12 month low of $139.78 and a 12 month high of $225.70.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.41 by ($0.03). M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business earned $3.09 EPS. On average, research analysts expect that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend yield of 3.26%. M&T Bank's dividend payout ratio (DPR) is currently 36.17%.

M&T Bank announced that its board has authorized a share repurchase plan on Wednesday, January 22nd that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 12.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its stock is undervalued.

M&T Bank 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.