3,111 Shares in M&T Bank Co. (NYSE:MTB) Purchased by Ibex Wealth Advisors

Ibex Wealth Advisors purchased a new position in shares of M&T Bank Co. (NYSE:MTB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,111 shares of the financial services provider's stock, valued at approximately $585,000.

A number of other hedge funds also recently made changes to their positions in MTB. Plato Investment Management Ltd raised its position in shares of M&T Bank by 2,300.0% in the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock worth $30,000 after buying an additional 161 shares during the period. Ashton Thomas Securities LLC acquired a new stake in M&T Bank during the third quarter worth about $32,000. Hexagon Capital Partners LLC raised its holdings 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 worth $34,000 after purchasing an additional 68 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of M&T Bank by 329.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 158 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of M&T Bank during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 84.68% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MTB. Royal Bank of Canada lifted their price target on shares of M&T Bank from $190.00 to $208.00 and gave the company an "outperform" rating in a research report on Friday, October 18th. Wolfe Research raised shares of M&T Bank from a "peer perform" rating to an "outperform" rating and set a $210.00 price target for the company in a research report on Friday, October 4th. Bank of America raised their price objective on M&T Bank from $188.00 to $218.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Compass Point increased their target price on M&T Bank from $220.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $223.50 price target (up from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $221.68.

Insiders Place Their Bets

In related news, Director John P. Barnes sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $217.45, for a total value of $4,349,000.00. Following the sale, the director now owns 35,480 shares of the company's stock, valued at approximately $7,715,126. This trade represents a 36.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Kevin J. Pearson sold 7,500 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $195.88, for a total value of $1,469,100.00. Following the transaction, the insider now owns 40,502 shares of the company's stock, valued at approximately $7,933,531.76. The trade was a 15.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,487 shares of company stock valued at $8,182,809. Company insiders own 0.82% of the company's stock.

M&T Bank Stock Up 1.0 %

Shares of MTB stock traded up $2.07 during trading hours on Thursday, hitting $202.43. 270,948 shares of the company were exchanged, compared to its average volume of 1,331,658. The stock has a market capitalization of $33.59 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 1.37 and a beta of 0.79. M&T Bank Co. has a one year low of $128.31 and a one year high of $225.70. The business's 50-day simple moving average is $199.97 and its two-hundred day simple moving average is $186.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.93.

M&T Bank (NYSE:MTB - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping the consensus estimate 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 last year, the business posted $2.74 earnings per share. Sell-side analysts predict that M&T Bank Co. will post 16.56 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd were issued a dividend of $1.35 per share. The ex-dividend date was Monday, December 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.67%. M&T Bank's dividend payout ratio (DPR) is 36.91%.

M&T Bank announced that its board has authorized a share buyback program on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

About M&T Bank

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.