AMF Tjanstepension AB acquired a new stake in M&T Bank Co. (NYSE:MTB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 44,441 shares of the financial services provider's stock, valued at approximately $8,355,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of MTB. Plato Investment Management Ltd lifted its stake in shares of M&T Bank by 2,300.0% during the 3rd quarter. Plato Investment Management Ltd now owns 168 shares of the financial services provider's stock valued at $30,000 after buying an additional 161 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of M&T Bank during the third quarter worth $32,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of M&T Bank by 329.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 206 shares of the financial services provider's stock worth $37,000 after acquiring an additional 158 shares during the period. Y.D. More Investments Ltd grew its position in shares of 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 valued at $39,000 after purchasing an additional 114 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of M&T Bank in the third quarter valued at $44,000. 84.68% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have commented on the company. Truist Financial restated a "buy" rating and issued a $236.00 target price (up previously from $233.00) on shares of M&T Bank in a research note on Friday, January 17th. Compass Point raised their price objective 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. Wells Fargo & Company upped their target price on shares of M&T Bank from $190.00 to $205.00 and gave the stock an "underweight" rating in a report on Friday, November 15th. DA Davidson raised their price target on shares of M&T Bank from $222.00 to $223.00 and gave the company a "neutral" rating in a report on Friday, January 17th. Finally, Barclays boosted their price target on shares of M&T Bank from $228.00 to $235.00 and gave the company an "equal weight" rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $221.68.
Read Our Latest Stock Analysis on M&T Bank
M&T Bank Trading Up 0.6 %
M&T Bank stock traded up $1.01 during mid-day trading on Wednesday, hitting $172.18. The company's stock had a trading volume of 1,179,289 shares, compared to its average volume of 1,322,847. The business has a 50 day moving average price of $193.44 and a 200-day moving average price of $192.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.98 and a quick ratio of 0.99. M&T Bank Co. has a 12 month low of $133.03 and a 12 month high of $225.70. The stock has a market cap of $28.29 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74.
M&T Bank (NYSE:MTB - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share 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 last year, the firm posted $2.74 earnings per share. As a group, analysts forecast that M&T Bank Co. will post 16.57 EPS for the current year.
M&T Bank Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank's dividend payout ratio is 36.91%.
M&T Bank announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 22nd that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.
M&T Bank Company Profile
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Free Report)
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.
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