Avanza Fonder AB Invests $2.59 Million in M&T Bank Co. (NYSE:MTB)

Avanza Fonder AB bought a new stake in M&T Bank Co. (NYSE:MTB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,778 shares of the financial services provider's stock, valued at approximately $2,590,000.

Other large investors have also added to or reduced their stakes in the company. Hedeker Wealth LLC raised its holdings in shares of M&T Bank by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 3,519 shares of the financial services provider's stock valued at $627,000 after buying an additional 55 shares in the last quarter. Frank Rimerman Advisors LLC lifted its holdings in shares of M&T Bank by 1.0% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,644 shares of the financial services provider's stock worth $1,005,000 after acquiring an additional 57 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of M&T Bank by 1.9% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,103 shares of the financial services provider's stock valued at $553,000 after purchasing an additional 57 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of M&T Bank by 54.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 68 shares in the last quarter. Finally, Meitav Investment House Ltd. raised its position in M&T Bank by 3.1% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,270 shares of the financial services provider's stock worth $386,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 84.68% of the company's stock.

Insider Activity at M&T Bank

In related news, CEO Rene F. Jones sold 23,071 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $193.88, for a total value of $4,473,005.48. Following the sale, the chief executive officer now owns 77,226 shares in the company, valued at approximately $14,972,576.88. This trade represents a 23.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John P. Barnes sold 20,000 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $193.97, for a total value of $3,879,400.00. Following the transaction, the director now directly owns 49,960 shares in the company, valued at $9,690,741.20. The trade was a 28.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,994 shares of company stock valued at $17,211,278 over the last ninety days. Insiders own 0.82% of the company's stock.

M&T Bank Stock Up 0.4 %

Shares of MTB traded up $0.78 during trading hours on Friday, hitting $196.88. The company had a trading volume of 2,029,408 shares, compared to its average volume of 1,013,933. The stock has a market capitalization of $32.67 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 2.16 and a beta of 0.79. The firm has a fifty day moving average price of $202.41 and a 200-day moving average price of $183.49. M&T Bank Co. has a 52-week low of $128.31 and a 52-week high of $225.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 0.99.

M&T Bank (NYSE:MTB - Get Free Report) last posted its quarterly 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 net margin of 17.82% and a return on equity of 9.52%. During the same quarter in the previous year, the business earned $2.74 EPS. On average, equities research analysts forecast that M&T Bank Co. will post 14.58 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Monday, December 2nd. M&T Bank's payout ratio is currently 39.97%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MTB shares. Compass Point upped 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. StockNews.com upgraded M&T Bank from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Piper Sandler boosted their price objective on M&T Bank from $205.00 to $243.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $223.50 target price (up previously from $215.00) on shares of M&T Bank in a report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods increased their price target on shares of M&T Bank from $205.00 to $221.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. One investment 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $221.68.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.