M&T Bank Co. (NYSE:MTB) Shares Sold by Absher Wealth Management LLC

Absher Wealth Management LLC lowered its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 17.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 197,868 shares of the financial services provider's stock after selling 42,274 shares during the quarter. M&T Bank accounts for 4.9% of Absher Wealth Management LLC's holdings, making the stock its 2nd biggest holding. Absher Wealth Management LLC owned approximately 0.12% of M&T Bank worth $37,201,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MTB. Plato Investment Management Ltd raised its holdings in shares of M&T Bank by 2,300.0% in the third quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 161 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of M&T Bank in the 3rd quarter valued at about $32,000. Hexagon Capital Partners LLC lifted its position 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. boosted its stake in shares of M&T Bank by 329.2% during the third 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, Y.D. More Investments Ltd raised its stake in M&T Bank by 122.6% in the fourth quarter. Y.D. More Investments Ltd now owns 207 shares of the financial services provider's stock worth $39,000 after buying an additional 114 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Transactions at M&T Bank

In related news, EVP Tracy S. Woodrow sold 2,121 shares of the business's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $220.75, for a total transaction of $468,210.75. Following the transaction, the executive vice president now directly owns 5,141 shares in the company, valued at approximately $1,134,875.75. The trade was a 29.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Gary N. Geisel sold 2,490 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total transaction of $537,566.10. Following the completion of the sale, the insider now owns 16,429 shares of the company's stock, valued at approximately $3,546,856.81. The trade was a 13.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,397 shares of company stock valued at $6,379,459 over the last ninety days. Insiders own 0.82% of the company's stock.

M&T Bank Price Performance

Shares of MTB stock traded down $1.36 during trading hours on Friday, hitting $200.59. 906,333 shares of the company's stock were exchanged, compared to its average volume of 1,306,269. The firm has a 50 day moving average of $197.10 and a two-hundred day moving average of $188.04. M&T Bank Co. has a fifty-two week low of $129.36 and a fifty-two week high of $225.70. The firm has a market cap of $33.28 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.42 and a beta of 0.79. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same period last year, the business earned $2.74 EPS. Sell-side analysts forecast that M&T Bank Co. will post 16.56 EPS for the current year.

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

M&T Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 2nd were given a $1.35 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.69%. M&T Bank's dividend payout ratio (DPR) is presently 36.91%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MTB. Keefe, Bruyette & Woods upped their target price on 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. Evercore ISI lifted their target price on shares of M&T Bank from $210.00 to $232.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price target on shares of M&T Bank from $190.00 to $205.00 and gave the company an "underweight" rating in a research note on Friday, November 15th. Piper Sandler upped their target price 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. Finally, Citigroup downgraded M&T Bank from a "buy" rating to a "neutral" rating and boosted their price target for the company from $220.00 to $230.00 in a research note on Monday, November 25th. One equities research 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's stock. According to data from MarketBeat.com, M&T Bank currently has an average rating of "Hold" and a consensus target price of $221.68.

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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.