Ashton Thomas Private Wealth LLC Increases Stake in M&T Bank Co. (NYSE:MTB)

Ashton Thomas Private Wealth LLC grew its stake in shares of M&T Bank Co. (NYSE:MTB - Free Report) by 197.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,862 shares of the financial services provider's stock after buying an additional 3,226 shares during the period. Ashton Thomas Private Wealth LLC's holdings in M&T Bank were worth $914,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MTB. Hennion & Walsh Asset Management Inc. increased its stake in M&T Bank by 34.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,835 shares of the financial services provider's stock worth $1,473,000 after acquiring an additional 2,018 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of M&T Bank during the third quarter worth about $44,000. Flagship Harbor Advisors LLC increased its position in shares of M&T Bank by 89.8% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,737 shares of the financial services provider's stock worth $515,000 after purchasing an additional 1,295 shares during the last quarter. Summit Trail Advisors LLC purchased a new stake in M&T Bank in the fourth quarter valued at approximately $290,000. Finally, Principal Financial Group Inc. lifted its position in M&T Bank by 1.4% during the third quarter. Principal Financial Group Inc. now owns 199,111 shares of the financial services provider's stock valued at $35,466,000 after purchasing an additional 2,797 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MTB shares. Compass Point increased their price target on shares of M&T Bank from $220.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Truist Financial reissued 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. The Goldman Sachs Group raised their price target on M&T Bank from $216.00 to $243.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Citigroup cut M&T Bank from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $220.00 to $230.00 in a report on Monday, November 25th. Finally, Piper Sandler raised their price objective on M&T Bank from $205.00 to $243.00 and gave the company an "overweight" rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $221.68.

M&T Bank Trading Down 1.2 %

M&T Bank stock traded down $2.07 during trading hours on Tuesday, reaching $171.68. The stock had a trading volume of 791,387 shares, compared to its average volume of 1,305,793. The company has a fifty day simple moving average of $193.77 and a 200-day simple moving average of $192.04. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70. The stock has a market cap of $28.21 billion, a PE ratio of 11.74, a PEG ratio of 1.38 and a beta of 0.74. 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 (NYSE:MTB - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.92 earnings per share (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 in the previous year, the firm earned $2.74 EPS. Analysts forecast that M&T Bank Co. will post 16.57 EPS for the current fiscal year.

M&T Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.15%. M&T Bank's dividend payout ratio (DPR) is presently 36.91%.

M&T Bank announced that its Board of Directors has approved a share repurchase program on Wednesday, January 22nd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership 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: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.