Banco Bilbao Vizcaya Argentaria S.A. Buys 47,557 Shares of M&T Bank Co. (NYSE:MTB)

Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in M&T Bank Co. (NYSE:MTB - Free Report) by 827.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,303 shares of the financial services provider's stock after purchasing an additional 47,557 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in M&T Bank were worth $10,021,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its position in M&T Bank by 14.3% during the fourth quarter. FMR LLC now owns 14,110,412 shares of the financial services provider's stock valued at $2,652,899,000 after purchasing an additional 1,761,014 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of M&T Bank by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,289,727 shares of the financial services provider's stock valued at $994,522,000 after buying an additional 252,583 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of M&T Bank by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,370,762 shares of the financial services provider's stock valued at $819,768,000 after buying an additional 40,948 shares in the last quarter. Norges Bank acquired a new position in M&T Bank during the fourth quarter worth $317,690,000. Finally, First Trust Advisors LP increased its holdings in M&T Bank by 2.1% during the fourth quarter. First Trust Advisors LP now owns 1,605,724 shares of the financial services provider's stock worth $301,892,000 after buying an additional 33,017 shares during the last quarter. Institutional investors own 84.68% of the company's stock.

Insider Activity at M&T Bank

In related news, EVP Christopher E. Kay sold 1,738 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $172.34, for a total value of $299,526.92. Following the completion of the sale, the executive vice president now directly owns 10,751 shares of the company's stock, valued at approximately $1,852,827.34. This represents a 13.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley reduced their price target on M&T Bank from $269.00 to $253.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Piper Sandler cut their price target on M&T Bank from $220.00 to $210.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Truist Financial decreased their price objective on shares of M&T Bank from $225.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Royal Bank of Canada lowered their price target on shares of M&T Bank from $208.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, StockNews.com raised M&T Bank from a "sell" rating to a "hold" rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $208.24.

M&T Bank Stock Up 0.7 %

MTB traded up $1.15 during midday trading on Tuesday, reaching $169.87. The company's stock had a trading volume of 585,235 shares, compared to its average volume of 1,118,222. The stock's 50-day moving average is $173.21 and its 200-day moving average is $190.75. The firm has a market capitalization of $27.91 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.38 and a beta of 0.58. M&T Bank Co. has a 1 year low of $139.78 and a 1 year high of $225.70. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47.

M&T Bank (NYSE:MTB - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.41 by ($0.03). The firm had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.35 billion. M&T Bank had a return on equity of 10.12% and a net margin of 19.24%. During the same quarter in the previous year, the firm earned $3.09 earnings per share. As a group, research analysts expect that M&T Bank Co. will post 16.57 EPS for the current year.

M&T Bank announced that its Board of Directors has initiated a share buyback 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 stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.

M&T Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 3rd were paid a $1.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $5.40 annualized dividend and a dividend yield of 3.18%. M&T Bank's dividend payout ratio (DPR) is 36.17%.

M&T Bank Company 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: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.